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Office Depot


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ODP Corp.




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Volume 6,719

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$ 38.03

$ 37.45


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10:16 a.m. Nov. 24, 2021 - Barrons.com
Which Stores Are Open or Closed on Thanksgiving? Here’s a Handy List. Here's what shoppers should know before Thanksgiving.
1:34 a.m. Nov. 19, 2021 - Barrons.com
Big Tech’s Surge, Alibaba’s Plunge, and Biden’s Social Spending Bill: Barron’s Daily House Democrats delay vote on $1.85 trillion spending bill, Ford Motor and GM are getting into the chip business, retailers move to make the best use of their stores, and other news to start your day.
4:43 a.m. Nov. 3, 2021 - By Tonya Garcia
Office Depot parent ODP beats on profit but misses sales expectationsOffice Depot parent ODP Corp. reported third-quarter net income totaling $101 million, or $1.85 per share, up from $57 million, or $1.04 per share, last year. Adjusted EPS of $1.76 beat the FactSet consensus for $1.43. Sales of $2.18 billion were down from $2.35 billion last year and missed the FactSet consensus for $2.27 billion. ODP attributed the sales decline to 163 fewer retail locations and a diminished demand for items in certain categories compared with last year. "The investments we've made in our private fleet, distribution assets, and diverse third party carrier relationships are helping us mitigate some of the impacts related to the recent industry-wide supply chain disruptions," said Gerry Smith, ODP chief executive, in a statement. Smith also said that the delta variant slowed the back-to-office trends, though there was strength in back-to-school items as more students and teachers headed back to classrooms. ODP is its business solutions arm from its retail business. The spin-off is expected to be complete during the first half of 2022. ODP shares have advanced 50% for the year to date while the S&P 500 index is up 23.2% for the period.
6:56 a.m. Oct. 20, 2021 - MarketWatch.com
Bomb blasts in Damascus kill 14 on military bus; army shells elsewhere kill 10Two bombs attached to a bus carrying Syrian troops exploded in Damascus during the morning rush hour Wednesday, a military official said. Fourteen people were killed in the attack, one of the deadliest in the capital in years.
1:36 a.m. Oct. 13, 2021 - Barrons.com
Supply-Chain Issues Are the Focus of Earnings Season. Don’t Overlook the Response. Chip shortage may force Apple to cut iPhone 13 production goals, Southwest and American Airlines will comply with federal vaccine mandates, percentage of returning office workers hits pandemic high, and other news to start your day.
11:55 a.m. Oct. 6, 2021 - By Joy Wiltermuth
Dow scores best comeback since December, S&P 500 and Nasdaq end higher as tech stocks find a footingU.S. stock benchmarks close higher Wednesday, with the Dow staging an intraday comeback, as technology stocks find a footing and signs of progress emerge in Washington on the debt ceiling debate.
5:20 a.m. Oct. 6, 2021 - By Tonya Garcia
Office Depot aims to make orders available for in-store or curbside pickup in 20 minutesOffice Depot has announced its "20 Minute Pickup Promise," which will make orders placed on the retailer's website or mobile app available for in-store or curbside pickup in 20 minutes or the customer will receive a discount on their next qualifying purchase. Retailers have been competing on speed of delivery, pickup and other fulfillment services. Office Depot has launched this service with the holidays in mind. ODP Corp. is in the the Office Depot and OfficeMax business from the B2B business solutions arm. ODP stock has gained 41.4% for the year to date while the S&P 500 index is up 14.7% for the period.
11:42 a.m. Sept. 2, 2021 - MarketWatch.com
Top 11 Family-Friendly Suburbs Where Parents Will Actually Want To Live, 2021 EditionPeople pondering parenthood have long felt like they’ve landed in a high-stakes Choose Your Own Adventure story: Should they raise their family in a lively urban environment with limitless options for culture and entertainment, or opt for a more placid area with lots of green space and good schools—the real estate equivalent of eating your spinach?
11:22 a.m. Sept. 1, 2021 - By Mark DeCambre
S&P 500 ekes out gain, Nasdaq books record close as investors focus on jobsU.S. stocks closed mostly higher Wednesday, despite an August private-sector employment report that came in below forecasts, putting Friday’s monthly government jobs report and future Federal Reserve support in focus.
5:13 a.m. Aug. 29, 2021 - By Lukas I. Alpert
Medical supplier allegedly took $12 million for masks and gloves --- using it to buy a Boca Raton mansion, prosecutors sayBrian Sperber has been charged with pocketing over $12 million for life-saving PPE and never delivering.
4:51 a.m. Aug. 24, 2021 - By Tonya Garcia
ODP Corp. and Office Depot name post-spinoff CEOs ODP Corp. has named the chief executives who will run ODP and Office Depot when the two companies complete their tax-free spinoff. Gerry Smith will continue to lead ODP and its operating companies, including the contract sales channel, which will be renamed ODP Business Solutions, and a new B2B digital platform technology business called Varis. Kevin Moffitt, currently chief retail officer, will serve as CEO of Office Depot, which has 1,100 Office Depot and OfficeMax store locations. The separated companies will run independently but are expected to share commercial agreements that will allow them to leverage opportunities in areas like supply chain. ODP shares have surged nearly 54% for the year to date while the benchmark S&P 500 index has gained 19.4% for the period.
11:26 a.m. Aug. 19, 2021 - Barrons.com
27% of Dow Companies Have Mandated Vaccines With Covid-19 cases surging in the U.S., Barron's looks at vaccine policies for the 30 companies in one of the most-watched stock indexes.
1:31 a.m. Aug. 16, 2021 - Barrons.com
Chinese Growth Slowdown Adds to List of Investors’ Concerns Chaotic evacuation of Westerners as Afghan government collapses, more companies postpone return to offices, BHP in talks to exit oil and gas business, and other news to start your day.
4:12 a.m. Aug. 4, 2021 - By Tonya Garcia
Office Depot parent ODP beats sales expectations, updates separation plansThe ODP Corp. reported a second-quarter net loss of $88 million, or $1.62 per share, after a loss of $439 million, or $8.19 per share, last year. Adjusted EPS of 51 cents missed the FactSet consensus for 52 cents. Sales of $2.286 billion were up from $2.158 billion last year and beat the FactSet consensus for $2.221 billion. ODP is the parent company to Office Depot, Compucom and other business service and office supply names. ODP has updated its separation strategy, with plans for a tax-free spin-off of the consumer business, "Newco," which will include Office Depot and OfficeMax, and ODP, the B2B business solutions provider, as the other entity. The company's current management team is expected to stay on with the new ODP business. The new entities will shares commercial agreements in order to leverage size and scale. The separation is expected to be complete by the first half of 2022. ODP stock has jumped 63.4% for the year to date, while the S&P 500 index is up 17.8% for the period.
3:35 a.m. July 27, 2021 - By Therese Poletti
This could be the peak of the tech boom --- Here's what to look forAs tech companies begin reporting more huge profit and sales totals this week, the question to ask is how long the heady growth can continue.
5:05 a.m. July 26, 2021 - By Tonya Garcia
Lowe's downgraded on housing sector declines and possible back-to-work slowdownLowe's Cos. shares shed 2.8% in early Monday trading after the home improvement retailer was downgraded to neutral from outperform at Wedbush. Analysts cut the price target to $210 from $225. Wedbush cites weakness in the housing sector in its note, saying that existing home sales dollar turnover has peaked with minimal growth forecast for 2022. Less affordability and limited supply are also putting the squeeze on sales. "Accordingly, very tough comparisons could result in mid-single-digit decline average comps for Home Depot and Lowe's for the next four quarters (vs. consensus for low-single-digit decline), and very low single-digit comps from 2Q-4Q22 (vs. consensus mid-single-digit increase) in our base case scenario analysis," the note said. Analysts maintained their neutral rating on Home Depot Inc. Wedbush analysts led by Seth Basham also say homeowners have been making renovations to accommodate work-from-home lifestyles. "Should companies require employees to work at the office full-time when the pandemic ends, this spending could slow," the note said. Lowe's stock has gained 21.6% for the year to date while the S&P 500 index is up 17.5% for the period.
9:55 a.m. June 17, 2021 - Barrons.com
How Fidelity Is Riding the Growth in Sustainable Investing The investment manager launched five actively managed mutual funds and ETFs, bringing its total ESG offerings to 11. More are likely to follow.
11:22 a.m. June 4, 2021 - By Christine Idzelis
U.S. stocks end higher as May jobs report invokes bullish 'Goldilocks' scenarioU.S. stocks closed higher Friday after the May nonfarm payrolls report showed a less-than-expected gain, leading investors to believe that the Federal Reserve will maintain its easy-money policies for longer.
7:50 a.m. June 4, 2021 - By Nicole Lyn Pesce
Don’t laminate your COVID vaccination card before doing these 5 thingsHow to keep your COVID vaccine card safe, and what to do if you lose it
4:20 a.m. June 4, 2021 - By Tomi Kilgore
ODP stock rallies after Staples makes $1 billion bid for Office Depot, OfficeMax parent's consumer businessShares of ODP Corp. rallied 5.1% in premarket trading Friday, after the office supplies retailer received an unsolicited $1.0 billion bid from Staples parent USR Parent Inc. to buy ODP's consumer business, which includes the Office Depot and OfficeMax retail stores business. USR Parent, which is backed by Sycamore Partners, sent a letter to ODP's board of directors proposing the acquisition, which is valued at $18.27 a share. ODP's stock closed Thursday at $44.57 to represent a market capitalization of $2.39 billion. USR said recently it was , after O from USR for the entire company. "We believe our proposal represents a compelling opportunity for [ODP] and its shareholders," USR wrote in its letter. "We look forward to working with the Company to negotiate and sign the necessary definitive agreements for the proposed transaction, and to proceed to closing the transaction as soon as practicable." ODP shares have run up 52.1% year to date, while the S&P 500 has advanced 11.6%.
Staples makes $1.0 bln bid to buy ODP's consumer assets, including Office Depot and OfficeMax
4:04 a.m. June 4, 2021
10:15 a.m. May 21, 2021 - By Steve Goldstein
Facebook's overtaken Amazon as top hedge fund holding, according to Goldman Sachs. Here's what else funds have loaded up on.According to Goldman Sachs, during the last 18 years, stocks with the largest increase in the number of hedge-fund investors have typically gone on to outperform sector peers during the quarters following their rise in popularity.
3:25 a.m. May 21, 2021 - Barrons.com
This Crazy Stock Market Makes Total Sense Biden administration takes aim at cryptocurrency, states offer to pay jobless to return to work, already high gas prices expected to keep rising, and other news to start your day.
3:14 a.m. May 19, 2021 - Barrons.com
The Bitcoin Bubble Is Popping New York drops masks and capacity limits, retail earnings confirm consumers are ready to shop again, ECB warns on heightened risks to financial stability, and other news to start your day.
1:57 a.m. May 19, 2021 - Barrons.com
Retail Earnings Show There's No Stopping the U.S. Consumer Shoppers are just as likely to be finishing home improvement projects as they are to be buying luggage for their first post-pandemic trip.
3:28 a.m. May 17, 2021 - Barrons.com
Businesses and States Vary on Dropping Mask Requirements Right Away Masks are still required at Apple, CVS, Home Depot, Kroger, Macy’s, Meijer, Target, Walgreens, and Winn-Dixie.
3:21 a.m. May 17, 2021 - Barrons.com
Why Bitcoin Won’t Stop Dropping AT&T to merge media assets with Discovery, businesses and states vary on dropping mask requirements, Amazon union vote in spotlight, and other news to start your day.
7:10 p.m. May 6, 2021 - MarketWatch.com
Atlanta Mayor Keisha Lance Bottoms won't seek re-electionAtlanta Mayor Keisha Lance Bottoms announced Thursday she will not seek a second term, an election-year surprise that marks a sharp turnabout for the city’s second Black woman executive who months ago was among those President Joe Biden considered for his running mate.
1:56 a.m. May 5, 2021 - By Tomi Kilgore
ODP stock rises after plan to separate into two publicly traded companiesShares of ODP Corp. were indicated up more than 2% in premarket trading Wednesday, after the office supply retailer announced plans to separate into two independent, publicly traded companies. The separation is expected to occur through a distribution of shares of the new company (NewCo) as a tax-free dividend to ODP shareholders, with ODP shareholders owning 100% of both companies. The record date of the dividend has not yet been determined. After the separation, ODP will have about 1,100 Office Depot and OfficeMax retail locations, and NewCo will provide business-to-business services, including ODP's Business Solutions Division contract business, Grant & Toy and ODP's regional office supply distribution businesses. "We believe creating two focused, pure-play companies will unlock significant opportunities by improving our ability to meet the needs of our customers, while better matching assets and investment profiles of both companies to generate greater value for our shareholders," said Chief Executive Gerry Smith. The stock has run up 45.0% year to date through Tuesday, while the S&P 500 has gained 10.9%.
3:38 a.m. April 23, 2021 - MarketWatch.com
What are voting-rights advocate Stacey Abrams's plans for 2022?Why Abrams is more measured than most fellow Democrats in criticizing Georgia's new voting law and has resisted calls for boycotts of Georgia businesses that have not condemned the law.
10:42 a.m. April 17, 2021 - By Jacob Passy
Here’s what the 30 Dow industrials companies are saying about new voting restrictionsOver a quarter of the Dow industrials companies signed a statement opposing state voting restrictions.
9:07 a.m. March 26, 2021 - MarketWatch.com
Amid outcry, Georgia governor signs bill restricting voting into lawGeorgia Gov. Brian Kemp on Thursday signed into law a sweeping Republican-sponsored overhaul of state elections that includes new restrictions on voting by mail and gives the legislature greater control over how elections are run.
6:14 a.m. Feb. 27, 2021 - By Elisabeth Buchwald
Some 730,000 Walmart employees won’t be getting $15 an hour pay --- they’re hardly alone'Why is it so hard for the richest family in America to just do what they should have done years ago?' one worker asked.
3:22 a.m. Feb. 16, 2021 - Barrons.com
A Polar Vortex Is Roiling Power Markets Oil tops $60 a barrel for the first time in more than a year, big investment by Warren Buffett could be disclosed today, the next big battles in the coronavirus pandemic, and other news to start your day.
12:53 p.m. Jan. 30, 2021 - MarketWatch.com
Pelosi decries ‘enemy within the House’ and Missouri Democrat moves office as Capitol security is tightenedRep. Cori Bush says she and her staff felt unsafe with office near that of Georgia Republican Marjorie Taylor Greene.
6:26 a.m. Jan. 21, 2021 - By Lawrence G. McMillan
Keep riding the S&P 500’s momentum because the chart is so strong Also, how to trade ODPAlso, how to trade ODP.
Office Depot parent ODP proposes combining consumer-focused retail operations with Staples
3:18 a.m. Jan. 19, 2021
3:19 p.m. Jan. 15, 2021 - Barrons.com
Barron’s 2020 Quiz Winner Gets an Unusually High Score The winner of Barron’s annual quiz posted a score of 15 out of a possible 18. That’s not easy.
7:33 a.m. Jan. 12, 2021 - By alicia Diaz
Kidde penalty for faulty fire-extinguishers signals stiffer consumer-safety rules in Biden era The first major U.S. consumer-safety penalty in almost three years against a maker of popular fire extinguishers could be a preview of the tougher oversight companies will face under a more aggressive Biden administration.
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