Consumer Business Review: Office Depots SHUT DOWN, Ford RECALLS 2013 Escapes

Here are Thursday’s top stories:

Office Depot, Inc. (NYSE:ODP) will shut down 10 of its 52 branches in Israel, say local reports. Additionally, the company will also attempt to reduce rental costs at its locations throughout the country.

Don’t Miss: United Parcel Service Second Quarter Earnings Sneak Peek.

Wal-Mart Stores, Inc. (NYSE:WMT), Target Corporation (NYSE:TGT) and Best Buy Company (NYSE:BBY) are among retailers that stand to gain, starting about now, from back-to-school spending that is estimated by the National Retail Federation to jump by 14 percent this year. If realized, the increase would mark the best rate since the survey began in 2003. It is calculated that almost 60 percent of parents will invest in some type of electronics, which is notably up from the 2011 level of electronics expenditures.

Ford Motor Company (NYSE:F) is recalling 2013 Escape vehicles that are equipped with a 1.6-liter engine and built between April through July 11 of 2012, in order to replace a fuel line which might be faulty.

Don’t Miss: GE Quarterly Earnings Sneak Peek.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.