$ODP (Office Depot, Inc.)

$ODP {{ '2016-02-10T18:31:39+0000' | timeago}} • Announcement

U.S. office supplies retailer $SPLS said that it has received approval from the European Union to acquire its rival $ODP. European regulators signed off on the proposed acquisition after $SPLS agreed to divest some of $ODP's businesses in Europe, including all of its operations in Sweden.

$ODP {{ '2017-10-03T21:13:51+0000' | timeago}} • Announcement

$ODP expects 3Q17 sales to decline between 7-8% and between 5-6% decline in comparable retail store sales. The company predicts 3Q17 adjusted operating income of $125-135MM and free cash flow from continuing operations of about $200MM. For FY17, $ODP lowered its adjusted operating income outlook to $400-425MM from about $500MM.

$ODP {{ '2017-10-03T21:07:10+0000' | timeago}} • Announcement

$ODP agreed to buy CompuCom Systems from Thomas H. Lee Partners LP. The acquisition of CompuCom is expected to accelerate $ODP's ability to enhance shareholder value and pursue topline growth. $ODP will finance the acquisition with new debt and the issuance of about 45MM shares of its common stock to THL. The deal will close by the end of the year.

$ODP {{ '2017-10-03T21:05:51+0000' | timeago}} • Announcement

$ODP said it is pivoting the company from a traditional office products retailer to a broader business services and technology products platform. $ODP agreed to buy CompuCom Systems from Thomas H. Lee Partners LP for a total consideration of about $1Bil, which includes the repayment of CompuCom debt and issuance of new $ODP shares.

$ODP {{ '2017-10-02T19:54:18+0000' | timeago}} • Announcement

$ODP appointed David Bleisch as EVP, Chief Legal Officer and Corporate Secretary. Bleisch will lead the strategic direction of the legal organization and operations, as well as manage the regulatory and compliance matters. He is filling the role vacated by Steve Calkins who was promoted to President, Business Solutions Division in May.

$ODP {{ '2017-09-20T15:27:53+0000' | timeago}} • Announcement

$ODP appointed David Bleisch as EVP, Chief Legal Officer and Corporate Secretary. Bleisch will lead strategic direction of legal organization and operations, as well as manage the regulatory and compliance matters. Bleisch is filling the role vacated by Steve Calkins who was promoted to President, Business Solutions Division in May.

$ODP {{ '2017-09-14T12:53:44+0000' | timeago}} • Announcement

$ODP, a provider of office supplies and business products, announced that Jerri DeVard has joined it as EVP and Chief Marketing Officer. She will report to CEO Gerry Smith and be responsible for driving growth, building brand equity and increasing market share.

$ODP {{ '2017-08-09T14:30:33+0000' | timeago}} • Announcement

$ODP declared a dividend of $0.025 per share, or $0.10 per share on an annualized basis, on its common stock. The dividend is payable on September 15, 2017, to shareholders of record on August 25, 2017.

$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.

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