OfficeMax Opens its First Test Prototype PDQ Store Format in Woodmere/A
(PR Newswire; 07/30/98)
CLEVELAND, July 30 /PRNewswire/ OfficeMax, Inc. (NYSE: OMX) today
announced the launching of its new PDQ concept store in the Cleveland suburb of
Woodmere (Chagrin Boulevard just east of I-271 in the Village Square Shopping
Center). This 7,500-square-foot store, which is about a third of the size of
the Company's traditional superstores, offers a full-service, state- of-the-art
CopyMax hub combined with over 3,000 commodity-type office products, as
compared to more than 8,000 in a full-size OfficeMax superstore. The new
OfficeMax retail concept provides guaranteed low prices on all merchandise.
"OfficeMax PDQ(SM) is a unique, 'quick-shop' format in a convenient
location for when customers don't have the time to shop one of our full-size
OfficeMax superstores," said Michael Feuer, the Company's chairman and chief
executive officer. Mr. Feuer added that the PDQ format will allow OfficeMax to
penetrate high-density urban locations both in domestic and international
markets as well as locate these smaller satellite stores in office parks,
office buildings and on or near college campuses.
CopyMax offers a wide variety of print-for-pay services including: expanded
color print offerings; high speed, digital copying in both black & white and
color; a full array of binding, finishing and banner production services;
desktop publishing; personal computer rental stations with Internet access;
document design; engineering copying; and fax and resume assistance. The
Company currently operates CopyMax within virtually all of its OfficeMax stores
with CopyMax hubs functioning as production units for its satellite locations.
The Company said that its OfficeMax PDQ store customers will have the same
full-service features available to them that the OfficeMax superstores offer
including MaxValues(R) and MaxRebates(R), along with the capability to obtain
over 20,000 products through an electronic, in-store kiosk ordering system that
is Internet-based. The OfficeMax PDQ stores will have extended shopping hours
to accommodate customers' after hours printing and office supply needs.
Additional tests of the PDQ store format are planned for later this year.
Today, OfficeMax operates 753 full-size superstores featuring office
supplies, office furniture, computer software, business machines and related
items in over 310 markets in 48 states and Puerto Rico. In addition to its
CopyMax store-within-a-store concept, the Company also operates FurnitureMax,
another in-store module devoted exclusively to office furniture. OfficeMax
also has 17 delivery centers throughout the United States to serve its catalog
and direct marketing business and OfficeMax OnLine(R) on the Internet at
http://www.officemax.com, enabling individual consumers and businesses to buy a
wide assortment of merchandise using personal computers.
This release contains forward-looking statements which are subject to risks
and uncertainties. OfficeMax's Annual Report on Form 10-K, as filed with the
Securities and Exchange Commission for the year ended January 24, 1998,
contains a discussion about certain factors which could cause results to differ
from management's expectations. These risks include, without limitation, the
following: general economic conditions, increased competition, aggressive
expansion strategy, and political and economic instability in Mexico or Japan.