Although TCP does some of its bulb business as it did when it first started by putting the name of private-label name of customers such as Home Depot and Office Depot on its bulbs, more than half of its shipments of nearly 300 million bulbs last year or more than 40% of the total North American CFL purchases were sold in big chains such as Wal-Mart and Sears under the TCP brand.
To boost margins, Starboard suggests that Office Depot increase higher-margin services in its North American retail unit and carry more private-label products, while reducing store size and the total number of goods sold.