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Office Depot Inc (ODP.O)

ODP.O on Nasdaq

4.59USD
29 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Office Depot announces partnership with Silverback Learning Solutions
Monday, 20 Mar 2017 09:00am EDT 

Office Depot Inc :Office Depot Inc - announced a partnership with Silverback Learning Solutions.  Full Article

Office Depot announces new advertising agency of record
Thursday, 2 Mar 2017 08:30am EST 

Office Depot Inc :Office Depot Inc - Has reached a two-year agreement with Zimmerman Advertising, LLC as its advertising and media agency of record.  Full Article

Office Depot posts Q4 earnings per share $0.15
Wednesday, 1 Mar 2017 06:45am EST 

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".  Full Article

Office Depot recalls Winsley Chairs due to fall hazard
Tuesday, 4 Oct 2016 12:15pm EDT 

U.S. Consumer Product Safety Commission : Office Depot recalls Winsley chairs due to fall hazard . About 129,000 Office Depot Inc's Winsley mid-back chairs involved in recall .No incidents or injuries related to fall hazard from Winsley chairs has been reported.  Full Article

Office Depot gets irrevocable offer to acquire co's European business
Friday, 23 Sep 2016 01:22pm EDT 

Office Depot Inc : Received an irrevocable offer from Aurelius Rho Invest DS GmbH, a subsidiary of Aurelius Group to acquire co's European business . Transaction is structured as an equity sale with purchaser acquiring the OD European business with its assets, liabilities . Purchaser has provided offer to Office Depot Foreign Holdings LP, LLC and Office Depot Foreign Holdings GP, LLC, units of co . Upon completion of consultation with central works council, Office Depot Foreign Holdings has option to enter into deal with Aurelius Group . If option is not exercised, a EUR 5 million fee will be payable by office depot foreign holdings to purchaser . Office Depot Foreign Holdings' aggregate liability for warranty, indemnity claims under SPA is limited to EUR 10 million related to OD European business . Company will retain responsibility for UK defined benefit pension plan .Until deal closing date, company has agreed to operate OD European business in ordinary course - SEC filing.  Full Article

Office Depot announces retirement of CEO Roland Smith in 2017
Monday, 22 Aug 2016 07:30am EDT 

Office Depot : Announces retirement of CEO Roland Smith in 2017 and executive reorganization to align with its three-year strategic plan . Office Depot announces retirement of CEO Roland Smith in 2017 and executive reorganization to align with its three-year strategic plan . It is expected Smith will remain chairman of board . Smith will continue to serve as CEO until a successor is named, which is expected by end of Q1 2017 . Board of directors will evaluate, with assistance of an executive search firm, both internal and external candidates for CEO . Reorganizing its executive committee to better align with three-year strategic plan unveiled by company earlier this month. . Consolidating retail, contract, ecommerce and marketing operations .Also named Rob Koch to newly-created position of executive vice president, business development.  Full Article

Office Depot initiates inaugural quarterly cash dividend of $0.025 per share
Wednesday, 3 Aug 2016 06:50am EDT 

Office Depot Inc :Initiates inaugural quarterly cash dividend of $0.025 per share.  Full Article

Office Depot announces redemption of 9.75% senior secured notes due 2019
Wednesday, 3 Aug 2016 06:50am EDT 

Office Depot Inc : Office Depot announces redemption of 9.75% senior secured notes due 2019 . Aggregate principal outstanding of notes is $250 million .Notes will be redeemed for cash at price equal to 104.875 percent of principal amount of notes plus accrued and unpaid interest.  Full Article

Office Depot reports Q2 earnings per share $0.38
Wednesday, 3 Aug 2016 06:00am EDT 

Office Depot Inc : Q2 adjusted earnings per share $0.03 . Q2 same store sales fell 1 percent . Q2 earnings per share $0.38 . Q2 earnings per share view $0.06 -- Thomson Reuters I/B/E/S . Q2 sales $3.2 billion versus I/B/E/S view $3.21 billion . Launches $250 million cost savings program . Qtrly North American retail division sales were $1.2 billion in Q2 of 2016 compared to $1.3 billion . Exploring strategic alternatives regarding European business, has process underway to determine if sale of business could be executed . Board of directors had authorized a stock repurchase program of up to $100 million . Result of strategic review of business is 3-year strategic plan to grow profitability that contains four key elements . Continues to expect total company sales in 2016 to be lower than 2015, primarily due to impact of store closures . Strategic review is substantially complete and a "number of initiatives are underway across business" . Expects free cash flow to be in excess of $200 million in 2016, more than $300 million in 2017 as one-time merger, integration spending abates . Calling outstanding 9.75% senior secured notes due 2019 for redemption on september 15, 2016 . Launching initiatives, including lower overall general and administrative costs . Calling its outstanding 9.75% senior secured notes due 2019 for redemption on September 15, 2016.  Full Article

Office Depot says CEO Roland Smith's FY 2015 compensation was $4.3 mln
Monday, 13 Jun 2016 05:35pm EDT 

Office Depot Inc : CEO Roland Smith's FY 2015 total compensation was $4.3 million versus $5.1 million in FY 2014 Source: (http://1.usa.gov/1PYKBgz) Further company coverage: [ODP.O] (Bengaluru Newsroom: +1 646 223 8780).  Full Article

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BRIEF-Office Depot announces partnership with Silverback Learning Solutions

* Office Depot Inc - announced a partnership with Silverback Learning Solutions Source text for Eikon: Further company coverage: