$ODP (Office Depot, Inc.)

$ODP {{ '2016-08-22T11:46:36+0000' | timeago}} • Announcement

$ODP said it named Troy Rice to the newly-created position of COO, North America and Rob Koch to the newly-created position of Executive Vice President, Business Development. Rice and Koch will report to Mark Cosby, President, North America, until a new CEO is named.

$ODP {{ '2017-07-25T15:36:33+0000' | timeago}} • Announcement

$ODP has appointed Janet Schijns as SVP of Services – Copy, Print and Tech, which is a newly created role. Schijns, a veteran channel executive from Verizon, will oversee the company’s regional print production facilities to support printing capabilities and the delivery needs of customers.

$ODP {{ '2017-07-25T14:37:31+0000' | timeago}} • Announcement

$ODP appointed Janet Schijns, a veteran channel executive from $VZ, in the newly created role of SVP, services - copy, print and tech. Schijns will lead the strategy for copy, print and tech services, focusing on execution and growth.

$ODP {{ '2017-06-22T12:52:50+0000' | timeago}} • Announcement

$ODP said it is entering into an exclusive licensing agreement with Centriq Technology, to develop a unique business application utilizing their award-winning asset management platform.

$ODP {{ '2017-06-02T12:04:31+0000' | timeago}} • Announcement

$ODP reached an agreement to sell its business in mainland China to Shanghai M&G COLIPU Office Supplies Co., Ltd. Office Depot had previously disclosed its intention to sell substantially all of its international businesses under a process that began in 2016.

$ODP {{ '2017-05-09T12:43:43+0000' | timeago}} • Announcement

In 2017, $ODP expects total company sales to be lower than 2016, primarily due to the impact of planned store closures, prior year contract customer losses, continued challenging market conditions.

$ODP {{ '2017-05-09T12:40:08+0000' | timeago}} • Announcement

Office products company $ODP reported higher 1Q17 earnings, helped by higher operating income. Net income rose to $116MM, or $0.22 per share, compared to $46MM, or $0.08 per share. Total sales during the quarter fell 7% YoY to $2.7Bil from $2.9Bil. Excluding items, $ODP earned $0.16 per share.

$ODP {{ '2017-05-09T12:35:06+0000' | timeago}} • Announcement

$ODP's Board of Directors declared a dividend of $0.025 per share, which amounts to $0.10 per share on an annualized basis, on the common stock of the company. The dividend is payable on June 15, 2017, to shareholders of record on May 25, 2017.

$ODP {{ '2017-04-26T16:21:39+0000' | timeago}} • Announcement

$ODP has closed on the sale of its business in South Korea to Excelsior Capital Asia. Office Depot had previously disclosed its intention to sell substantially all of its international businesses under a process that began in 2016.

$ODP {{ '2017-03-02T16:01:17+0000' | timeago}} • Announcement

$ODP reached a 2-year agreement with Zimmerman Advertising, LLC as its advertising and media agency of record. Zimmerman will oversee the company's social media efforts including media buying for those channels while developing integrated, strategic marketing and advertising campaigns under the Office Depot and OfficeMax banners.

$ODP {{ '2017-03-01T13:05:16+0000' | timeago}} • Announcement

For FY17, $ODP expects sales to be lower than FY16, mainly due to the impact of store closures. The company anticipates free cash flow from continuing operations to be more than $300MM in 2017.

$ODP {{ '2017-03-01T13:02:22+0000' | timeago}} • Announcement

During 4Q16, $ODP's North America Retail Division sales fell to 3% YoY to $1.4Bil and same-store sales fell 4%, mainly due to lower store traffic. Sales of Business Solutions Division was relatively flat at $1.4Bil.

$ODP {{ '2017-03-01T12:47:26+0000' | timeago}} • Announcement

Office supply chain store $ODP reported higher 4Q16 earnings, helped by $15MM of operating income from the additional 53rd week, primarily in North American Retail Division. Net income rose to $80MM, or $0.15 per share, compared to $15MM, or $0.03 per share in 4Q15. Net sales fell 2% YoY to $2.7Bil. Excluding items, $ODP earned $0.11 per share.

$ODP {{ '2017-02-14T16:53:47+0000' | timeago}} • Announcement

$ODP BoD declared a dividend of $0.025 per share on the common stock, payable on March 15, 2017, to shareholders of record on March 3, 2017.

$ODP {{ '2017-01-30T12:43:51+0000' | timeago}} • Announcement

$ODP's BoD sought to diversify the overall corporate governance structure with the selection of an independent non-executive Board Chairman to lead the board. Current Board member Joseph Vassalluzzo will become Chairman effective Feb. 27, 2017. Vassalluzzo currently serves as Chair of the Finance and Integration Committee.

$ODP {{ '2017-01-30T12:42:54+0000' | timeago}} • Announcement

$ODP's BoD appointed Gerry Smith as CEO, effective Feb. 27, 2017. Gerry Smith will succeed current CEO Roland Smith, who previously announced his intention to retire from the company. Gerry Smith currently serves as EVP and COO at Lenovo Group. Also, Gerry Smith will join $ODP board as a director.

$ODP {{ '2017-01-17T14:18:21+0000' | timeago}} • Announcement

$ODP announced an expanded partnership with Austin Independent School District (AISD). The company recently worked with the district to develop an innovative entrepreneurship classroom at Crockett High School, located in Austin, Texas.

$ODP {{ '2017-01-03T12:13:48+0000' | timeago}} • Announcement

$ODP completed sale of its European business to The AURELIUS Group. This transaction is part of the company's recently announced international divestiture strategy to focus on opportunities in its North American business.

$ODP {{ '2016-11-02T18:35:29+0000' | timeago}} • Announcement

$ODP declared a dividend of $0.025 per share ($0.10 per share on an annualized basis) on the common stock of the company. The dividend is payable on December 15, 2016, to shareholders of record at the close of business on November 25, 2016.

$ODP {{ '2016-10-13T17:47:46+0000' | timeago}} • Announcement

$ODP said all Office Depot and OfficeMax stores will be closed on Thanksgiving Day after reviewing both business and personal dynamics this year. This allows associates to spend time with their family and friends. Office Depot stores are scheduled to open at 6 a.m on Nov. 25.

$ODP {{ '2016-09-26T10:54:51+0000' | timeago}} • Announcement

$ODP plans to sell its European business to The AURELIUS Group. The transaction is structured as an equity sale, for nominal consideration, with the buyer acquiring the European business with its assets and liabilities. The transaction is expected to close by the end of 2016. Goldman Sachs acted as $ODP's exclusive financial advisor.

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