Office Depot To Close 400 US Stores, Shares Rise

(Reuters) - Office Depot Inc (ODP.N) raised its forecast for full-year adjusted operating income and said it would close at least 400 stores in the United States over two years, sending the office supply retailer's shares up about 10 percent before the bell. The company, which also reported better-than-expected quarterly results due to cost-cutting, said it would shut 150 stores this year.