Office Depot Launches Coworking Pilot, Expands Business Services Platform Workonomy
Centered largely around small and midsize businesses, Workonomy Hub is an integrated coworking space that recently opened at Office Depot’s Los Gatos, California, store. The workspace gives customers access to a number of services and tools, including access to tech experts for consultations through its tech services kiosks, self-service printing stations and in-store pack-and-ship capabilities.
The company plans to bring Workonomy Tech Services Kiosks to 141 stores throughout Florida, Georgia and Texas by the end of the month.
“With our comprehensive portfolio of services and solutions, and thousands of experts and approximately 1,400 locations, Workonomy provides holistic services for businesses at any stage to help them succeed and grow,” Office Depot Executive Vice President and Chief Services and Solutions Officer Janet Schijns said in a statement.
Office Depot isn’t the only business supply giant experimenting with shared-office space in retail locations. Staples entered a partnership with shared-workspace startup Workbar to open 2,500 SF to 3,500 SF workspaces in three Boston Staples stores in 2016. The deal was meant to help Staples absorb excess retail space, Retail Dive reported.
The Staples-Workbar deal closed around the same time Office Depot’s $6.5B merger with Staples was blocked by the the Federal Trade Commission in early 2016 due to antitrust concerns and to help preserve healthy competition in the office supply market. In return, Office Depot put forth plans to shutter 300 stores over the course of three years.
Office Depot’s portfolio includes 1,400 stores. The company reported second-quarter sales that beat analyst estimates, according to Zacks Equity Research. Sales increased 11% to $2.6B for the Boca Raton, Florida-based chain, though comparable store sales were down 2%. The retailer continues to underperform the broad stock market, with its stock price dropping 28.8% since the beginning of the year, according to Zacks.