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Analysts expect its sales to slip 2% this year. In early July, the company announced that it had fired CEO Demos Parneros for “violations of the company’s policies” without disclosing any additional details. That news, along with Amazon’s plans to render the retailer obsolete, casts a dark cloud over its future. MIAMI, FL - MAY 11: An Office Depot store is seen on May 11, 2016 in Miami, Florida. A federal judge blocked the proposed merger of Staples Inc. and Office Depot Inc. because of antitrust concerns. (Photo by Joe Raedle/Getty Images) Office Depot (NASDAQ:ODP) is another company being rendered obsolete by Amazon and other e-tailers. It tried to counter the competition by merging with its rival Office Max in 2013, but combining two losers didn’t make a winner. Staples tried to buy Office Depot in 2015, but the merger was abandoned in 2016 due to antitrust concerns. Office Depot’s stock lost more than 70% of its value over the past three years.
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