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OfficeMax Incorporated Message Board

  • jayw0219 jayw0219 Mar 18, 2006 3:06 PM Flag

    $30.00 a share

    with no earnings. just amazing. i would short the stock, but the buyout threat seems to be keeping it high. too risky.

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    • >>>>>I think if you polled the average business person,they would generally consider a "new" store,a new "address" location,not a remodel<<<<<

      Exactly.

    • I think if you polled the average business person,they would generally consider a "new" store,a new "address" location,not a remodel,no matter how extensive.OMX is just trying to avoid more negative PR by trying to put a positive spin on the 100 plus store closing.But you really can't blame the PR people for that,OMX has recently had more than a little bad press,so damage control often done wherever possible.BUT it it can backfire if the company gets a reputation for being a little "misleading" like this on a constant basis.

    • They have closed nowhere near the same % of total stores as OfficeMax did in the recent annoucement,no one ever said others didn't close stores,just not anywhere as high of % of total stores at one point in time. Any companies that closed stores due to bankruptcy or close to bankruptcy like the "old" K Mart don't count.

    • Their communication seemed very straightforward to me. They stated their plan for new stores and told you how many total stores they estimated to have at the end of 2006.

      I take it you would have rather seen them guarantee EXACTLY how many stores they will open on new real estate and guarantee EXACTLY how many remodels they will complete in 2006. That way you would not feel misled.

      Then, when they fall short by a store or two you can post about how the lied and deceived you by only opening 67 stores instead of 70. And, if they exceed the 70, you can then post about how they overspent.

      C'mon, read the communication for what it is. A plan, an estimate, a best guess, or intention. Which they appear to be following through on.

    • <<<<"Up to" and "mainly" leave it wide open. They could open far less than 70 stores and still not have made a misleading statement.
      I would have no problem calling one of the remodeled stores a new store. They are not simply slapping some new paint on the walls. It will be a new store from the ground up.
      If I remodeled my home to this extent, I would not say I "bought" a new one but I would say its like living in a new one.<<<<<


      Leaving it "wide open" and subject to interpretation after the fact is why it's misleading. Does the "new" store do anything for store count? Of course not, in that discussion they call it what it is, a remodel. I wish the the company would be straightforward and stop parsing words. Hard to stop though, it's become habit. This is just like Alice in Wonderland..."when I use a word it means just what I want it to mean." It's sad, really.

    • What is the misleading part? The original communication stated they would open up to 70 new stores...mainly in the new format. "Up to" and "mainly" leave it wide open. They could open far less than 70 stores and still not have made a misleading statement.

      I would have no problem calling one of the remodeled stores a new store. They are not simply slapping some new paint on the walls. It will be a new store from the ground up.

      If I remodeled my home to this extent, I would not say I "bought" a new one but I would say its like living in a new one.

    • I have seen the new store and if the remodels are a complete change to the new format, then it is a "new" store. The new look is impressive to walk thru. You can only do so much to make buying office supplies a dynamic experience.For most, it is just like going to the grocery store.
      As far as cartridge refills go, there are several retailers doing this, and I suspect that most will eventually add the capability. It is not the profit, but rather the bait.

    • <<Does it really matter how many stores are on new real estate? Isn't the real issue that OMX is making the right move by closing non-performing stores and opening/remodeling/relocating or whatever new stores?>>>

      I see your point that either is a positive step but in my opinion it does matter and it seems misleading to imply remodels are new stores. If you remodeled your house would you claim you bought a new one?

    • OMX opened a handful of stores across the country last year, maybe 15 - 20 tops? 2 years ago there was another big store closing spree. In my area, the stores that are left are in areas where there is no sign of slowing down, but, they're not all in the best of locations. There are a lot of great locations that could be stores, would make sense to open one there, but there isnt one.

    • Does it really matter how many stores are on new real estate? Isn't the real issue that OMX is making the right move by closing non-performing stores and opening/remodeling/relocating or whatever new stores?

      It's my understanding that OMX hasn't opened new stores in close to 5 yrs and has been way behind on closing the non-performers. 110 stores may seem drastic but given OMX's efforts in this area I'd think it's probably in line with what should have happening anyway during recent years.

      This is one of the best moves that could have been made in the past year. Whether they open brand new stores or remodel existing ones, I'd say it represents the right investment in a key area.

      The new store formats seem to be a mild hit thus far in my region. They closed stores that were in good locations 10 years ago but the areas have declined since then. The new locations are well positioned at this time. I'm interested in seeing how quickly they can get the first 70 up and rolling.

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