Edition:
United States

Office Depot Inc (ODP.O)

ODP.O on Nasdaq

3.78USD
20 Oct 2017
Change (% chg)

$0.11 (+3.00%)
Prev Close
$3.67
Open
$3.70
Day's High
$3.79
Day's Low
$3.67
Volume
3,936,301
Avg. Vol
5,908,445
52-wk High
$6.26
52-wk Low
$3.01

Latest Key Developments (Source: Significant Developments)

Office Depot announces executive VP Michael Allison will leave company effective Oct 13‍​
Tuesday, 17 Oct 2017 04:39pm EDT 

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​
Tuesday, 3 Oct 2017 04:35pm EDT 

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
Monday, 14 Aug 2017 05:09pm EDT 

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 06:50am EDT 

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

Office Depot, Centriq Tech partner on asset management platform
Thursday, 22 Jun 2017 07:00am EDT 

June 22 (Reuters) - Office Depot Inc ::Office Depot Inc partners with Centriq Technology on asset management platform.Office Depot Inc - entering into an exclusive licensing agreement with Centriq Technology Inc.  Full Article

Office Depot announces deal to sell operations in Mainland China
Friday, 2 Jun 2017 07:30am EDT 

June 2 (Reuters) - Office Depot Inc :Office Depot announces deal to sell operations in Mainland China.Agreement to sell its business in Mainland China to Shanghai M&G Colipu Office Supplies Co Ltd.‍transaction is subject to regulatory approval and is expected to close within next several months​.Office Depot announces deal to sell operations in mainland china.  Full Article

Shanghai M&G Stationery's unit to acquire 100 pct stake in Office Depot in China
Thursday, 1 Jun 2017 04:35am EDT 

June 1 (Reuters) - Shanghai M&G Stationery Inc <603899.SS>:Says its unit plans to acquire 100 percent stake in Office Depot in China.  Full Article

Office Depot declares quarterly cash dividend of $0.025 per share
Tuesday, 9 May 2017 06:50am EDT 

May 9 (Reuters) - Office Depot Inc : :Office Depot declares quarterly cash dividend of $0.025 per share.  Full Article

Office Depot Inc reports Q1 earnings per share $0.22
Tuesday, 9 May 2017 06:50am EDT 

May 9 (Reuters) - Office Depot Inc : :Office Depot Inc announces first quarter 2017 results.Q1 adjusted earnings per share $0.16 from continuing operations.Q1 gaap earnings per share $0.14 from continuing operations.Q1 earnings per share $0.22.Q1 earnings per share view $0.12 -- Thomson Reuters I/B/E/S.Q1 sales $2.7 billion versus I/B/E/S view $2.71 billion.Office Depot Inc - announces sale agreements for businesses in Australia, New Zealand and South Korea.Office Depot Inc - North American retail division sales were $1.4 billion in Q1 of 2017 compared to $1.5 billion in prior year period.Office Depot Inc - office depot continues to expect total company sales in 2017 to be lower than 2016.Office Depot Inc - qtrly North American retail division reported a 5pct decline in comparable store sales.Office Depot Inc - expects to be substantially complete with officemax integration and realize majority of remaining synergy benefits by end of 2017.Office Depot Inc - merger integration expenses are estimated to total approximately $45 million in 2017 with approximately $25 million in capital expenditures.Office depot inc - expects to deliver over $250 million in annual benefits by end of 2018.Office Depot Inc - company continues to expect adjusted operating income of approximately $500 million in fiscal 2017.Office Depot Inc - in 2017, capital expenditures are expected to be approximately $200 million.  Full Article

Fairpointe Capital LLC reports 6.4 pct passive stake in Office Depot Inc
Friday, 21 Apr 2017 03:56pm EDT 

April 21 (Reuters) - Office Depot Inc :Fairpointe Capital LLC reports 6.4 percent passive stake in Office Depot Inc as on March 31, 2017 - SEC Filing.  Full Article

BRIEF-Office Depot announces executive VP Michael Allison will leave company effective Oct 13‍​

* Office Depot - on Oct 12, co announced Michael Allison, executive vice president, chief administrative officer, will leave company effective Oct 13‍​