Office Depot

The ODP Corp. operates as a holding company, which engages in the provision of business services and supplies, products, and digital workplace technology solutions. It operates through the Business Solutions Division and Retail Division segments. The Business Solutions Division segment offers nationally branded and the company's private branded office supply and adjacency products and services. The Retail segment includes a chain of retail store that sell office supplies, technology products and solutions, business machines and related supplies, cleaning, breakroom and facilities products, personal protective equipment, and office furniture. The company was founded in 1986 and is headquartered in Boca Raton, FL.

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Earnings data Q4 2024

Office Depot navigates challenges, focuses on growth and shareholder value

Office Depot overcame challenges through operational focus and a low-cost model, positioning for future growth.
Strong performance in ODP Business Solutions offset challenges in the Consumer Division.
Strategic initiatives like the $1 billion share repurchase program enhanced shareholder value.
Focus on driving sales growth, improving customer experience, and expanding categories for future success.

Office Depot (ODP) reports strong Q1 results and maintains guidance

Office Depot (ODP) showcases strong Q1 performance and strategic focus on unlocking business value.
Maintained guidance reflects confidence in navigating challenges and capitalizing on growth opportunities.
Emphasis on operational excellence, cost reduction, and disciplined capital returns to drive shareholder value.

Office Depot reports solid Q2 results, eyes growth opportunities

Office Depot showcased strong performance in Q2, with solid financial results and operational excellence despite challenges in certain segments.
The company's new business unit model is unlocking growth potential, with Veyer and Varis showing promising results and opportunities for expansion.
While facing revenue challenges and lower demand in some areas, Office Depot remains focused on efficiency, cost control, and new category offerings for future growth.
Management's confidence in operational performance, highlighted by revised EPS guidance and strong cash flow improvement, sets a positive outlook for the company's future.

Office Depot reports Q3 revenue decline but boosts EPS guidance

Office Depot is navigating challenges in retail sales and client onboarding delays while capitalizing on growth opportunities in logistics and strategic business units. Strong operating performance and cost control measures are driving improved financial outlook for 2023. Focus on category expansion and customer growth remains key for future success.

Office Depot reports strong 2023 performance, focuses on cost efficiency

Office Depot showcased strong financial performance in 2023 despite revenue challenges, focusing on cost optimization and shareholder returns.
The company's initiatives like Project CORE and Education 365 aim to enhance efficiencies, diversify revenue streams, and drive growth.
While facing revenue declines and strategic reviews, Office Depot remains optimistic about maximizing shareholder value and executing its growth strategy.
With a disciplined approach to acquisitions and a focus on cash flow, Office Depot is poised to capture opportunities for sustained success and profitability.

Office Depot accelerates cost-saving initiatives amidst revenue challenges

Despite challenges, Office Depot remains focused on gaining market share and traction. The company is conservative about free cash flow outlook but disciplined in EBITDA and cash flow conversion. Executives emphasize a commitment to supporting customers during the Varis sale process.

Office Depot (ODP) addresses challenges, focuses on growth opportunities

Office Depot (ODP) is navigating challenges from the macroeconomic environment but remains focused on growth initiatives.
The company is strategically reprioritizing investments and capital allocation to drive shareholder return.
With a strong balance sheet and ongoing initiatives, Office Depot (ODP) aims to improve performance and seize growth opportunities.

Office Depot navigates challenges, focuses on B2B growth opportunities

Office Depot's Q3 performance reflected revenue decline but highlighted progress in the B2B pivot strategy.
Despite challenges from weak economic conditions and hurricanes, the company maintained market share stability and pursued growth opportunities.
With a focus on B2B contracts, liquidity management, and strategic investments, Office Depot aims to optimize its business model for future success.

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The ODP Corp. is a holding company, which engages in the provision of business services and supplies, products, and digital workplace technology solutions. It operates through the following divisions: ODP Business Solutions, Office Depot, Veyer, and Varis. The ODP Business Solutions division provides solutions to small, medium and enterprise level companies, including those in the public and education sectors. The Office Depot division covers the provision of solutions through omni-channel platform of 980 Office Depot and OfficeMax retail locations in the United States, Puerto Rico and the U.S. Virgin Islands, and an eCommerce presence. The Veyer division is the supply chain, distribution, procurement, and global sourcing operation. The Varis division includes the tech-enabled B2B indirect procurement marketplace. The company was founded in 1986 and is headquartered in Boca Raton, FL.

ODP is cheap, with multiple upcoming catalysts to unlock the value. Strong balance sheet and FCF generation.

The ODP Corporation: A Bargain With Multiple Catalysts

The ODP Corp. ODP, -1.16% , the former office goods retailer Office Depot, said Wednesday it has entered an agreement to sell its corporate headquarters in Boca Raton, Florida, and then partially lease it back. The deal is expected to close by year-end, after which ODP will lease part of the building's office space for at least two years.

ODP Corp. agrees to sell and partially lease back its corporate HQ in Boca Raton

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (“ODP” or the “Company”) (NASDAQ:ODP), a leading provider of business services, products and technology solutions to businesses and consumers through an integrated business-to-business (B2B) distribution platform and omnichannel presence, today announced that, subject to certain closing conditions, it has reached a definitive agreement for a sale and partial leaseback of its Boca Raton-based corporate headquarters. Upon completion of a sale

The ODP Corporation Enters Into Definitive Agreement for a Sale and Partial Leaseback of Its Corporate Headquarters

Uber

Uber Eats is continuing to add to its list of non-food delivery offerings with a new collaboration with Office Depot and its sister company OfficeMax. The partnership, announced in a Monday (Aug.

Office Depot, Uber Eats Team on Office Supplies Delivery

Starting August 15, over 900 Office Depot and OfficeMax stores will be available to shop on demand through the Uber Eats platform SAN FRANCISCO , Aug. 15, 2022 /PRNewswire/ -- Today Uber Technologies, Inc. (NYSE: UBER) and Office Depot, a wholly owned subsidiary of The ODP Corporation (NASDAQ: ODP) and leading provider of business services and supplies, products and technology solutions, announced that they are teaming up to bring business, office and school essentials to customers nationwide. Office Depot is the first business solutions and office supply retailer to be available on Uber Eats.

Uber Partners with Office Depot to Deliver Office and School Supplies Nationwide

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (NASDAQ:ODP) (“ODP” or the “Company”), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, online presence, and approximately 1,000 stores, today announced the final results of its “Dutch auction” tender offer, which expired at 12:00 midnight, New York City ti

ODP Announces Final Results of Dutch Auction Tender Offer

The ODP Corporation (NASDAQ:ODP ) Q2 2022 Results Conference Call August 3, 2022 9:00 AM ET Company Participants Tim Perrott - Vice President, IR Gerry Smith - CEO Anthony Scaglione - EVP, CFO Conference Call Participants Mike Lasser - UBS Operator Good morning, and welcome to The ODP Corporation's Second Quarter 2022 Earnings Conference Call. [Operator Instructions] At the request of ODP Corporation, today's call is being recorded.

The ODP Corporation (ODP) CEO Gerry Smith on Q2 2022 Results - Earnings Call Transcript

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced results for the second quarter ended June 25, 2022. Consolidated (in millions, except per share amounts) (1) 2Q22 2Q21 YTD22 YTD21 Sales $2,034 $2,070 $4,212 $4,244 Sales change from prior year period (2)%   (1)%   Operating income $28 $30 $104 $

The ODP Corporation Announces Second Quarter 2022 Results

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, released its 2022 Corporate Sustainability Report, providing information on the company's environmental, social and governance (ESG) practices and goals. “We've been focused on sustainability for nearly 20 years, consistently providing programs and initiatives to support our commitment t

The ODP Corporation Releases 2022 Sustainability Report

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (NASDAQ:ODP), a leading provider of business services and supplies, products and digital workplace technology solutions through an integrated B2B distribution platform and omnichannel presence, will announce second quarter 2022 financial results before the market open on Wednesday, August 3, 2022. The ODP Corporation will webcast a call with financial analysts and investors that day at 9:00 am Eastern Time which will be accessible to the me

The ODP Corporation to Announce Second Quarter 2022 Earnings Results Wednesday, August 3, 2022

BOCA RATON, Fla.--(BUSINESS WIRE)--Office Depot is committed to helping customers take back control of their school year and unlocking their potential in the classroom. After two years of considerable classroom and teaching adaptations, students, parents, and teachers are ready to create new routines and thrive inside and outside of the classroom. Whether it's upgrading a computer, refreshing backpacks and lunch bags, or optimizing a learning space with new furniture and accessories, they can f

Success Is in Session for Students, Parents and Teachers at Office Depot

The business is doing better than feared, and management is buying back a lot of stock.

Here's Why ODP Stock Soared on Monday

ODP Corp (NASDAQ: ODP) expects the second-quarter fiscal year 2022 sales of $2.0 billion, marginally below the consensus of $2.04 billion. The company expects Q2 adjusted EPS of $0.78 - $0.80 and adjusted EBITDA of $89 million - $91 million.

Why ODP Shares Are Surging Today

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (NASDAQ:ODP) (“ODP” or the “Company”), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced that it has commenced a modified “Dutch auction” tender offer to purchase its common shares for cash at a price per share of not less than $31.50 nor greater than $36.00 for a maximum aggregate purchase price of no more than $300 million. The tend

ODP Commences Modified Dutch Auction Tender Offer to Purchase up to $300 Million of its Outstanding Common Shares

ODP Corp. shares ODP, +4.37% rose 2.5% in premarket trade Monday, after the office goods retailer offered second-quarter profit guidance that beat estimates. The Boca Raton, Fla.

ODP Corp. shares pop 2.5% premarket after company offers above-consensus Q2 guidance

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (NASDAQ:ODP) (“ODP” or the “Company”), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced preliminary unaudited results for the second quarter of 2022 and announced that its Board of Directors has unanimously approved a $600 million share repurchase authorization including the launch of a $300 million modified “Dutch auction” cash tend

The ODP Corporation Announces Preliminary Unaudited Results for the Second Quarter of 2022; Provides Full-Year 2022 Guidance

BOCA RATON, Fla.--(BUSINESS WIRE)--ODP Business Solutions, a leading B2B provider of workplace and technology solutions, today announced the release of its new Diverse Supplier Catalog.

ODP Business Solutions Releases 2022 Diverse Supplier Catalog

The post-pandemic return to office phenomenon may create some interesting investment opportunities. Many major companies, from Tesla ( TSLA , Financial) to JPMorgan Chase ( JPM , Financial) have indicated they expect the majority of their employees to return to an office environment to increase productivity.

ODP Faces Challenges, but Is Cheap

The office supplies retailer is suffering from a bout of separation anxiety.

Why ODP Stock Is Plunging 14% Today

A multi-year process that would have put Staples, Office Depot, OfficeMax and more than a half dozen other related wholesale brands under one roof was officially rejected Tuesday (June 21), as the board of ODP announced the sale or spin-off of its consumer businesses would not proceed. “Given current market and macroeconomic conditions, as well […]

Office Depot Parent Rejects Bids, Says Retail and B2B Office Supply Biz Is ‘Better Together'

ODP Corp. ODP, +0.37% said Tuesday that it will not sell its consumer business after all, and will instead hold on to it under common ownership with its other business units. ODP recently completed the transformation to a holding company structure with four business units: Office Depot LLC, which operates 1,000 Office Depot and OfficeMax retail locations and an e-commerce arm; ODP Business Solutions LLC; Veyer LLC, a supply chain, distribution, procurement and global sourcing business; and Varis LLC, a B2B digital platform technology business.

ODP Corp. will hang on to its consumer business under common ownership

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (NASDAQ:ODP) (“ODP” or the “Company”), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced that its Board of Directors completed its previously announced review of the public and private non-binding proposals received by the Company to acquire its consumer business, including the Office Depot and OfficeMax retail stores business and its

The ODP Corporation Completes Realignment of Operating Business Entities to Better Serve Customers

NORTH MANKATO, Minn.--(BUSINESS WIRE)-- #ElevateSmallbiz--Taylor Corporation has joined a coalition of like-minded companies, including The ODP Corporation, JPMorgan Chase and NCR Foundation, to support small businesses through Elevate Together®, a nonprofit initiative designed to accelerate the creation, growth, and prosperity of Black and Hispanic small businesses. The program, powered by Round It Up America®, is now in its second year and has invested nearly $3 million towards its mission to date. Elevate Toge

Elevate Together® Initiative Expands to Minneapolis With Support of Taylor Corporation

The ODP Corporation (NASDAQ:ODP ) Q1 2022 Earnings Conference Call May 4, 2022 9:00 AM ET Company Participants Tim Perrott - Vice President, Investor Relations David Bleisch - Executive Vice President and Chief Legal and Administrative Officer Gerry Smith - CEO and Director Anthony Scaglione - Executive VP, CFO and Principal Accounting Officer Conference Call Participants Chris McGinnis - Sidoti and Company Operator Good morning, and welcome to The ODP Corporation's First Quarter 2022 Earnings Conference Call. [Operator Instructions] At the request of The ODP Corporation, today's call is being recorded.

The ODP Corporation (ODP) CEO Gerry Smith on Q1 2022 Results - Earnings Call Transcript

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced that David Centrella has been promoted to Executive Vice President, reporting directly to Chief Executive Officer of The ODP Corporation, Gerry Smith. In his new position, Centrella will also serve as President of ODP Business Solutions, a leading B2B solutions provider s

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