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.

Earnings data Q1 2021

Earnings data Q2 2021

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Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

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Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

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.

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

The ODP Corporation Announces Appointment of David Centrella as Executive Vice President and as President of ODP Business Solutions

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 first quarter ended March 26, 2022. Consolidated (in millions, except per share amounts) (1) 1Q22 1Q21 Sales $2,178 $2,174 Sales change from prior year period 0%   Operating income $76 $69 Adjusted operating income (2) $88 $93 Ne

The ODP Corporation Announces First 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, will announce first quarter 2022 financial results before the market open on Wednesday, May 4, 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 media and the general public. To listen to t

The ODP Corporation to Announce First Quarter 2022 Earnings Results Wednesday, May 4, 2022

BOCA RATON, Fla.--(BUSINESS WIRE)--Office Depot, a wholly owned subsidiary of The ODP Corporation (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform with an online presence and approximately 1,000 stores, today announced that it recognized a number of forward-thinking organizations from across the country for their leadership in greener purchasing, including: The Cincinnati Insurance Company

Office Depot Celebrates Organizations for Their Leadership in Greener Purchasing

BOCA RATON, Fla. & ATLANTA--(BUSINESS WIRE)-- #depotdifference--Office Depot, a wholly owned subsidiary of The ODP Corporation (NASDAQ:ODP), will kick off the company's fifth annual Depot Day of Service company-wide philanthropic initiative today with a $250,000 donation to Boys & Girls Clubs of America to support kids and teens across the country. Now through May 7, Office Depot associates, along with their friends and family members, will roll up their sleeves to complete more than 15 service projects to en

Office Depot Celebrates 5th Annual ‘Depot Day of Service' With $250,000 Donation to Boys & Girls Clubs of America

New Relationship Gives Instacart Customers Access to Same-Day Delivery from more than 1,000 Office Depot and OfficeMax Stores Nationwide SAN FRANCISCO and BOCA RATON, Fla. , March 17, 2022 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, and Office Depot, a wholly owned subsidiary of The ODP Corporation (NASDAQ:ODP), today announced they will offer same-day delivery from more than 1,000 Office Depot and OfficeMax stores across the U.S. as Instacart continues to broaden the selection of household goods on its marketplace.

Instacart Partners With Office Depot to Offer Same-Day Delivery of Office and School Supplies

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 Sarah E. Hlavinka will join the company as General Counsel of Office Depot, LLC on April 4, 2022, reporting directly to Chief Executive Officer of The ODP Corporation, Gerry Smith. She will become Executive Vice President, Chief Legal Officer and Corporate Secretary

The ODP Corporation Announces Appointment of Sarah E. Hlavinka as General Counsel of Office Depot, LLC

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 Kevin Moffitt, EVP and chief retail officer for The ODP Corporation, is scheduled to present the keynote speech at eTail Palm Springs 2022, the eCommerce & Omnichannel Retail Conference, at approximately 8:25 a.m. PST. Moffitt's keynote is titled: Connected Comme

Kevin Moffitt, EVP and Chief Retail Officer for The ODP Corporation, to Present Keynote Speech at eTail Palm Springs 2022 on Wednesday, March 2

The ODP Corporation (ODP) CEO Gerry Smith on Q4 2021 Results - Earnings Call Transcript

The ODP Corp. ODP, -3.13% said Wednesday it had net income of $32 million, or 61 cents a share, in the fourth quarter, up from $31 million, or 57 cents a share, in the year-earlier period. Adjusted per-share earnings came to 71 cents, well ahead of the 49 cent FactSet consensus.

Office Depot parent ODP tops estimates for fourth quarter

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 fourth quarter and full year ended December 25, 2021. Consolidated (in millions, except per share amounts) (1) 4Q21 4Q20 FY21 FY20 Sales $2,042 $2,085 $8,465 $8,872 Sales change from prior year period (2)%   (5)%   Operating inco

The ODP Corporation Announces Fourth Quarter and Full Year 2021 Results

ODP Corp (NASDAQ: ODP) reported a fourth-quarter FY21 sales decline of 2% year-on-year, to $2.04 billion, beating the Street view of $1.98 billion. Business Solutions Division sales rose 2% Y/Y to $1.2 billion, and Retail division sales decreased 7% to $885 million.

ODP's Q4 Earnings Top Estimates

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, will announce fourth quarter and full year 2021 financial results before the market open on Wednesday, February 23, 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 media and the general p

The ODP Corporation to Announce Fourth Quarter and Full Year 2021 Earnings Results Wednesday, February 23, 2022

SAN FRANCISCO & BOCA RATON, Fla.--(BUSINESS WIRE)-- #Entrepreneur--Brit + Co and Office Depot will continue to provide opportunities for female entrepreneurs with Selfmade, Brit + Co's 10-week virtual startup school.

Brit + Co Launches Selfmade Season Six in Collaboration with Office Depot to Help Women Start and Grow the Businesses of Their Dreams

ODP sold CompuCom, albeit at a low price, is now free from this low-quality business line.

The ODP Corporation: Potential 40% Upside

BOCA RATON, Fla.--(BUSINESS WIRE)--Office Depot received a perfect score of 100 on the Human Rights Campaign Foundation's 2022 Corporate Equality Index.

Office Depot Earns Top Score in Human Rights Campaign Foundation's 2022 Corporate Equality Index

ODP Corp said on Friday it had decided to delay its previously announced plans to split into two public companies to mull over sale offers for its consumer business, sending its shares up 10%.

Office Depot parent delays spin-off after new offer for consumer business

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 that its Board of Directors determined to delay the previously announced public company separation to evaluate a potential sale of the Company's consumer business. In May 2021, the Company announced that its Board of Directors unanimously approved

The ODP Corporation Delays Public Company Separation to Evaluate Potential Sale of Its Consumer Business

The shares of ODP Corp (NASDAQ:ODP) are up 6% to trade at $41.63 this morning, after the Office Max parent announced the sale of its CompuCom unit in a deal valued at roughly $305 million in cash, an interest-bearing promissory note, and a contingent future earn out.

ODP Announces $305 Million Sale, Stock Buyback Update

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 it has sold its CompuCom Systems subsidiary to an affiliate of Variant Equity in a transaction valued up to $305 million. “This action represents an important step in continuing to align our business model and resources towards our core strategy,” said Anthony Scag

The ODP Corporation Announces Sale of Its CompuCom Subsidiary in Transaction Valued up to $305 Million

MIAMI--(BUSINESS WIRE)-- #DEI--Best Buddies International is partnering with Office Depot to hire participants from Best Buddies jobs programs throughout Florida and California.

Best Buddies International Partners With Office Depot to Employ Individuals With Intellectual and Developmental Disabilities

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 with an online presence and approximately 1,100 stores (“ODP” or the “Company”), announced today that it has entered into accelerated share repurchase plan (“ASR”) agreements with Goldman Sachs & Co. LLC and JPMorgan Chase Bank, National Association to repurchase an aggregate of $150

The ODP Corporation Announces $150 Million Accelerated Share Repurchase and $150 Million Increase in Its Existing Stock Repurchase Plan

The imminent sale of CompuCom will better crystallize the value of the remaining enterprise. ODP generates significant free cash flow which is further supported by $400 million in net cash on the balance sheet.

Office Depot Is A Sum-Of-The-Parts Gem

The ODP Corporation's (ODP) third-quarter performance reflects on adverse impacts stemming from reduced traffic and supply chain headwinds.

The ODP Corporation (ODP) Q3 Earnings Beat Estimates, Sales Down

The ODP Corporation's (ODP) CEO Gerry Smith on Q3 2021 Results - Earnings Call Transcript

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