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Office Depot Inc (ODP.OQ)

ODP.OQ on NASDAQ Stock Exchange Global Select Market

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25 Apr 2018
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Latest Key Developments (Source: Significant Developments)

Toshiba and units reach settlement with U.S.-based firm Office Depot
Friday, 6 Apr 2018 

April 6 (Reuters) - Toshiba Corp <6502.T>:Says co and U.S.-based units reached settlement with U.S.-based firm Office Depot, Inc regarding cathode-ray tube related dispute, with settlement fund of $17 million (about 1.83 billion yen).  Full Article

Office Depot - Expects To Incur Additional $19 Million In 2018‍​ Related To Officemax Merger
Wednesday, 28 Feb 2018 

Feb 28 (Reuters) - Office Depot Inc ::OFFICE DEPOT - EXPECTS TO INCUR ADDITIONAL $19 MILLION IN 2018‍​ RELATED TO OFFICEMAX MERGER, INTEGRATION & RESTRUCTURING ACTIONS.  Full Article

Office Depot Declares Quarterly Cash Dividend Of $0.025 Per Share
Tuesday, 6 Feb 2018 

Feb 6 (Reuters) - Office Depot Inc ::OFFICE DEPOT DECLARES QUARTERLY CASH DIVIDEND OF $0.025 PER SHARE.  Full Article

Office Depot Says Entered Into Letter Agreement With CFO Joseph Lower
Thursday, 4 Jan 2018 

Jan 4 (Reuters) - Office Depot Inc ::OFFICE DEPOT SAYS ENTERED INTO LETTER AGREEMENT WITH CFO JOSEPH LOWER - SEC FILING.OFFICE DEPOT - UNDER TERMS OF AGREEMENT, LOWER WILL RECEIVE ANNUAL BASE SALARY OF $600,000.OFFICE DEPOT - UNDER AGREEMENT, LOWER WILL RECEIVE NEW HIRE SIGN-ON EQUITY AWARD OF $2 MILLION FOLLOWING EFFECTIVE DATE OF BECMONING CFO.  Full Article

Paulson & Co dissolves share stake in Facebook, cuts share stake in Allergan
Wednesday, 15 Nov 2017 

Nov 14 (Reuters) - Paulson & Co Inc::Paulson & Co Inc dissolves share stake in Facebook Inc ‍​- SEC filing.Paulson & Co Inc dissolves share stake in FedEx Corp.Paulson & Co Inc dissolves share stake in Arconic Inc.Paulson & Co Inc cuts share stake in Office Depot Inc by 20.7 percent to 10.0 million shares.Paulson & Co Inc cuts share stake in Allergan plc by 19.4 percent to 2.2 million.Paulson & Co Inc ups share stake in DISH Network Corp by 17.0 percent to 4.7 million class A shares.Paulson & Co Inc cuts share stake in Time Warner Inc by 18.8 percent to 2.4 million shares.Paulson & Co Inc - change in holdings are as of Sept 30, 2017 and compared with the previous quarter ended as of June 30, 2017‍​.  Full Article

Office Depot posts Q3 adj EPS of $0.14 from cont ops
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - Office Depot Inc ::Office Depot Inc Announces completion of CompuCom acquisition and transformation towards a services-driven company in conjunction with third quarter 2017 results.Q3 adjusted earnings per share $0.14 from continuing operations.Q3 earnings per share view $0.13 -- Thomson Reuters I/B/E/S.Q3 GAAP earnings per share $0.19 from continuing operations.Q3 earnings per share $0.17.Q3 sales $2.6 billion versus i/b/e/s view $2.61 billion.Says ‍Retail Division sales were $1.3 billion in Q3 of 2017 compared to $1.5 billion in prior year period​.Says Business Solutions Division sales were $1.3 billion in Q3 of 2017, a decline of 4% compared to Q3 of 2016​.Says ‍​continues to expect total company sales in 2017 to be lower than 2016.Says ‍for Q3 cash provided by operating activities of continuing operations included impact of $16 million in restructuring costs.Says ‍for Q3 cash provided by operating activities of continuing operations also included $12 million in Officemax merger-related costs​.Says ‍​continues to expect 2017 total company sales to be lower due to continued challenging market conditions, hurricane impacts, among others.Says ‍​expects the rate of sales decline to improve in the fourth quarter of 2017 on a comparable 13-week basis.Says expect 2018 sales trends to continue to be impacted by store closures, lower store traffic, ongoing competitive pressures​.  Full Article

Office Depot announces executive VP Michael Allison will leave company effective Oct 13‍​
Wednesday, 18 Oct 2017 

Oct 18 (Reuters) - Office Depot Inc :Office Depot - on Oct 12, co announced Michael Allison, executive vice president, chief administrative officer, will leave company effective Oct 13‍​.Office Depot - ‍pursuant to general release agreement, co will provide $1.3 million to Allison, payable in a lump sum six months following effective date​.  Full Article

Office Depot to acquire CompuCom for about $1 billion​
Wednesday, 4 Oct 2017 

Oct 3 (Reuters) - Office Depot Inc :Office Depot takes first step in strategic transformation to become business services platform with acquisition of CompuCom.Office Depot Inc - ‍expects over $40 million in estimated annual cost synergies within two years; acquisition to be accretive in year one​.Office Depot Inc - deal for ‍approximately $1 billion​.Office Depot Inc - ‍following transaction, THL will hold an equity position in office depot of approximately 8% of total shares outstanding​.Office Depot Inc - ‍total consideration of approximately $1 billion, includes repayment of CompuCom debt and issuance of new Office Depot shares​.Office Depot Inc - ‍under terms of agreement, Office Depot will acquire CompuCom from Thomas H. Lee Partners, L.P.​.Office Depot Inc - ‍expects to refinance CompuCom's existing debt with a new term loan of approximately $750 million​.Office Depot Inc - will finance acquisition with new debt and issuance of approximately 45 million shares of its common stock to THL​.Office Depot Inc - Office Depot expects to refinance CompuCom 's existing debt with a new term loan of approximately $750 million​.Office Depot Inc - sees ‍total reported sales decline between 7-8% for third quarter including store closures​.Office Depot Inc - ‍existing share buyback plan authorized by board of directors remains in place​.Office Depot Inc - ‍adjusted operating income for fiscal 2017 is now estimated to be between $400-$425 million, excluding impact of transaction​.  Full Article

Paulson & Co ups share stake in Amazon.com Inc
Tuesday, 15 Aug 2017 

Aug 14 (Reuters) - Paulson & Co ::Paulson & Co ups share stake in Amazon.com Inc by 41.8 percent to 7,800 shares - sec filing‍​.Paulson & Co cuts share stake in Office Depot Inc by 11.6 percent to 12.6 million shares - sec filing‍​.Paulson & Co cuts share stake in Facebook Inc by 22.0 percent to 144,500 class a shares - sec filing‍​.Paulson & Co - change in holdings are as of june 30, 2017 and compared with the previous quarter ended as of march 31, 2017‍​.  Full Article

Office Depot posts Q2 adj. earnings $0.06/shr from continuing operations
Wednesday, 9 Aug 2017 

Aug 9 (Reuters) - Office Depot Inc :Office Depot Inc announces second quarter 2017 results.Q2 adjusted earnings per share $0.06 from continuing operations.Q2 GAAP earnings per share $0.04 from continuing operations.Q2 earnings per share $0.05.Q2 earnings per share view $0.08 -- Thomson Reuters I/B/E/S.Q2 sales $2.4 billion versus I/B/E/S view $2.44 billion.Office Depot Inc - ‍continues to expect total company sales in 2017 to be lower than 2016​.Qtrly retail division sales were $1.1 billion in q2 of 2017 compared to $1.2 billion in prior year period.Office Depot Inc - ‍additional cost saving initiatives are expected to deliver over $250 million in annual benefits by end of 2018​.Office Depot - expects rate of sales decline to improve in h2 2017 based on improvements in customer retention, implementation of new customer wins​.Office Depot Inc - ‍expects to be substantially complete with officemax integration and realize majority of synergy benefits by end of 2017​.Office Depot Inc - ‍merger integration expenses are now estimated to total approximately $40 million in 2017​.Office Depot Inc - retail division had 6 pct decline in comparable store sales in quarter.Office Depot Inc - ‍company continues to expect adjusted operating income of approximately $500 million in fiscal 2017​.Office Depot- estimates will incur about $125 million in costs to implement cost saving programs, of which $75 million has been incurred in 2016, through H1 2017​.  Full Article

BRIEF-Office Depot CEO Gerry Smith's 2017 Total Compensation Was $16.8 Mln

* OFFICE DEPOT INC CEO GERRY SMITH'S 2017 TOTAL COMPENSATION WAS $16.8 MILLION – SEC FILING‍​ Source text - http://bit.ly/2IBWNC9 Further company coverage: