Revving Up Sales

By Jeremy Caplan

At Office Depot, it takes only one person to change a light bulb, but that person happens to be the new CEO, Steve Odland, hired on March 11. "Every little step matters," says Odland, who estimates that more efficient lighting in stores could save the company at least $1 million a year. "By working on our annual telecom bills," he adds, "we can save [another] seven figures." Small change, you say? Perhaps. But in Office Depot's battle with rival office-supply giant Staples, he needs all the help he can get. For growth, Odland is backing a marketing initiative with Nascar and a pilot program that puts Office Depot--brand products in Albertsons supermarkets. The company is also planning to launch 100 new stores this year and another 100 in 2006, boosting its U.S. total to nearly 1,200. Overseas, where Office Depot already operates in 21 countries, Odland is scouting anew in Asia, South America and Europe.

As for Odland's target customers, he says, "It's sometimes assumed that people are coming to our stores for home or personal supplies. But our focus is on businesses." So noted. --By Jeremy Caplan