Right click the folder you want to rename/delete/empty and select the appropriate option from the drop down list
Deleting a folder will remove the folder and its contents from the list of folders to the Deleted Items folder
Emptying a folder will move all of the emails into your Deleted Items folder but the folder will still exist
Handy Hint
If you delete a folder or email by accident, you can recover it by going to the Deleted Items folder on the left hand side of the screen, right clicking on the email and selecting Move
