I'm not sure about the international versions, but in the Dutch (NL) version of Outlook 2016 for Mac, the second menu-item on the left is named "Archief", which, of course, means Archive. It used to be "file" in Outlook 2011.
However, NONE of the actions in the drop-down are related to 'archive', they are (mostly) related to message, or calendar item, contact person, task, or note. Is it to much asked to change the name of it to these particular functions, depending on the window we're in? Or at least change it back to 'file', or 'item'.