March 1, 2017 / 12:04 PM / in 9 months

BRIEF-Office Depot posts Q4 earnings per share $0.15

March 1 (Reuters) - Office Depot Inc

* Office Depot Inc announces fourth quarter and full year 2016 results

* Office Depot Inc - completes sale of European business

* Office Depot Inc says completes sale of european business

* Q4 earnings per share view $0.10 -- Thomson Reuters I/B/E/S

* Q4 earnings per share $0.15

* Office Depot Inc - expects total company sales in 2017 to be lower than 2016, primarily due to impact of store closures

* Says company expects to close approximately 75 stores in 2017

* Office Depot Inc says continues to expect to achieve approximately $500 million in adjusted operating income in fiscal 2017

* Office Depot Inc says in 2017, capital expenditures are expected to be approximately $200 million

* Office Depot Inc - expects rate of sales decline to improve throughout 2017 based on improvements in customer retention among others

* Office Depot Inc says anticipates free cash flow from continuing operations to be more than $300 million in 2017

* Office Depot Inc - estimates it will incur up to approximately $125 million in one-time costs and capital expenditures to implement cost saving programs

* Office Depot Inc - as part of new cost saving program announced last year, expects to deliver over $250 million in annual benefits by end of 2018

* Office Depot - international businesses located in Australia, New Zealand, South Korea and Mainland China continue to be “actively marketed for sale”

* Office Depot - expect divestiture process for international businesses in Australia, New Zealand, South Korea, Mainland China to be completed in 2017

* Office Depot Inc - currently plans to retain its sourcing and trading operations in Asia Source text for Eikon: Further company coverage:

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