Office Depot has outlined a number of new strategic initiatives for the group.

In its North American division, the retailer is reviewing its product mix, reducing dependency on low-margin consumer electricals and increasing the provision of high-margin services such as its Tech Depot Services. It has also increased its private label range and direct import products.

Office Depot executive vice-president and chief financial officer Michael Newman  said: “We moved away from consumer electronics to drive profitability and margin improvement.”

In addition, Office Depot is looking to reduce its store occupancy costs in North America and testing a smaller format of around 16,145 sq ft.