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Office Depot Inc (ODP.OQ)

ODP.OQ on NASDAQ Stock Exchange Global Select Market

2.90USD
22 Jun 2018
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Latest Key Developments (Source: Significant Developments)

Office Depot Sees Services Revenue Growing To About 20 Pct Of Total Sales Through 2020
Wednesday, 16 May 2018 08:00am EDT 

May 16 (Reuters) - Office Depot Inc ::OFFICE DEPOT PROVIDES UPDATE ON STRATEGIC TRANSFORMATION TO BECOME AN OMNI-CHANNEL BUSINESS SERVICES PLATFORM.OUTLOOK TO 2020 SEES SERVICES REVENUE GROWING TO APPROXIMATELY 20% OF TOTAL SALES.EXPECTED 2019-2020 FINANCIAL TARGETS OF TOTAL SALES GROWING AT A 0% TO 2% COMPOUND ANNUAL GROWTH RATE.EXPECTED 2019-2020 FINANCIAL TARGETS OF ADJUSTED OPERATING INCOME GROWING AT A 3% TO 5% COMPOUND ANNUAL GROWTH RATE.WILL REAFFIRM 2018 OUTLOOK OF TOTAL SALES, SERVICES REVENUE, ADJUSTED OPERATING INCOME, FREE CASH FLOW.OFFICE DEPOT - EXPECTED 2019 - 2020 APPROXIMATELY $350 MILLION OF ANNUAL FREE CASH FLOW.FY2018 EARNINGS PER SHARE VIEW $0.31, REVENUE VIEW $10.88 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Greenlight Capital Cuts Share Stake In Twitter, Dissolves Share Stake in Under Armour
Tuesday, 15 May 2018 04:24pm EDT 

May 15 (Reuters) - Greenlight Capital Inc::GREENLIGHT CAPITAL DISSOLVES SHARE STAKE IN UNDER ARMOUR INC.GREENLIGHT CAPITAL CUTS SHARE STAKE IN TWITTER INC BY 10.1 PERCENT TO 2.5 MILLION SHARES.GREENLIGHT CAPITAL TAKES SHARE STAKE OF 2.1 MILLION SHARES IN OFFICE DEPOT INC.GREENLIGHT CAPITAL CUTS SHARE STAKE IN PERRIGO CO PLC BY 20.7 PERCENT TO 2.3 MILLION SHARES.GREENLIGHT CAPITAL - CHANGE IN HOLDINGS ARE AS OF MARCH 31, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF DEC 31, 2017.  Full Article

Toshiba and units reach settlement with U.S.-based firm Office Depot
Friday, 6 Apr 2018 02:37am EDT 

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 07:26am EST 

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 08:00am EST 

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 06:23am EST 

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
Tuesday, 14 Nov 2017 05:26pm EST 

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 06:50am EST 

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​
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

BRIEF-Office Depot Sees Services Revenue Growing To About 20 Pct Of Total Sales Through 2020

* OFFICE DEPOT PROVIDES UPDATE ON STRATEGIC TRANSFORMATION TO BECOME AN OMNI-CHANNEL BUSINESS SERVICES PLATFORM