Welcome to our dedicated page for The ODP Corporation news (Ticker: ODP), a resource for investors and traders seeking the latest updates and insights on The ODP Corporation stock.
The ODP Corporation Common Stock (symbol: ODP) represents a company deeply embedded in the business services and office product supply chain. Operating under notable brands like Office Depot®, OfficeMax®, and Grand & Toy®, ODP Corporation serves a diverse range of customers from individual consumers to large enterprises.
One of the core segments is ODP Business Solutions, which targets small to enterprise-level companies with a variety of products including office supplies, technology, furniture, and business services. This segment aims to streamline operations for businesses, enhancing productivity and efficiency.
The Office Depot Division caters primarily to retail consumers and small businesses through a network of approximately 1,400 retail stores and eCommerce platforms. This division provides essential office products, technology, and services designed to support the daily operations of its customers.
The Veyer Division focuses on supply chain, distribution, and procurement services, serving both internal and third-party clients. With an emphasis on global operations, this division ensures efficient and reliable logistics and supply chain management.
A notable innovation from ODP Corporation is the Varis Division, which offers a tech-enabled B2B indirect procurement marketplace. This division provides businesses with a seamless buying experience and advanced spend management tools, aiming to optimize procurement processes and control costs.
Financially, the company reported approximately $11 billion in annual sales for 2016 and employs around 38,000 associates. The revenue primarily stems from the Veyer Division. ODP Corporation's extensive network of wholly owned operations, franchisees, licensees, and alliance partners solidifies its position as a key player in the global office products and business services market.
Stay tuned for the latest updates as ODP Corporation continues to innovate and expand its suite of services to meet the evolving needs of its customers.
Office Depot (ODP) has announced a new business initiative with Verizon to offer telecommunications products and services through kiosks in select Office Depot and OfficeMax stores. The initial phase includes four locations in California and Illinois, with California stores launching in December 2024 and Illinois stores in early 2025.
The partnership will feature Verizon authorized agents selling products including 5G Business and Home Internet, One Talk Business Voice Over IP Solution, smartphones, watches, and tablets. The program will launch in two California locations (La Crescenta and Pasadena) and two Illinois locations (Chicago and Crystal Lake), offering customers access to market-exclusive promotions and national deals.
The ODP (NASDAQ:ODP) announced its participation in the Noble Capital Markets' Twentieth Annual Emerging Growth Equity Conference. Adam Haggard, senior vice president and interim co-chief financial officer, and Tim Perrott, vice president of investor relations and treasurer, will deliver a presentation on December 3rd, 2024 at approximately 2:30 pm (ET). Interested parties can access a replay of the presentation on the company's investor relations website, investor.theodpcorp.com, starting the following day.
Office Depot announces its Season of Savings campaign with daily online deals and weekly in-store sales. The company will offer Black Friday deals starting Thanksgiving Day online and in-store on November 29, followed by Cyber Week promotions. New partnerships include Hallmark's collection and photo services with up to 50% off on custom items. The company introduces convenient shopping options including 20-minute in-store pickup, same-day delivery, and PayPal's buy now, pay later option. Small businesses can benefit from printing and shipping discounts, while tech savings include up to $300 off select PCs and gaming equipment.
Grubhub has partnered with Office Depot to add office supplies to its marketplace, marking Office Depot as the first office supplies retailer on the platform. The partnership makes over 6,000 items available for on-demand delivery from more than 800 locations across 42 states, including laptops, printers, ink, paper products, and tech accessories. The service is integrated with Grubhub+ loyalty program, offering unlimited $0 delivery fees on eligible orders. This expansion addresses a significant market need, as over 80% of office administrators report running out of essential supplies requiring same-day replacement, and 67% prefer same-day delivery options.
The ODP (NASDAQ:ODP) has announced a transformative $1.5 billion, 10-year partnership with a major strategic reseller organization. The collaboration aims to enhance procurement efficiency and deliver customized customer experiences by combining the reseller's expertise in e-commerce solutions with ODP's extensive fulfillment centers and delivery network. The partnership will focus on providing office, furniture, print, promotional, and facility resource solutions to large multi-site companies, leveraging ODP's comprehensive product offerings and award-winning e-commerce platform.
The ODP reported third quarter 2024 results with total revenue of $1.8 billion, down 11% year-over-year. The company posted GAAP EPS of $2.04 and adjusted EPS of $0.71. Performance was impacted by challenging macroeconomic conditions and lower sales across divisions. The Office Depot Division saw reduced traffic and operated with 53 fewer retail locations, while ODP Business Solutions experienced cautious business spending.
Notable developments include securing a major B2B contract potentially worth up to $1.5 billion over 10 years and completing the Varis sale. The company repurchased approximately $295 million of shares year-to-date and updated its 2024 guidance to approximately $7 billion in sales and adjusted EBITDA of $260-300 million.
ODP Business Solutions has renewed its sponsorship of Disney Institute Professional Development Courses for 2024-2025 at Walt Disney World and Disneyland resorts. The partnership focuses on courses in leadership excellence, employee engagement, and quality service. ODP's Workspace Interiors team helped create Disney Institute's new dedicated learning space, providing space planning, design, and project management services. The innovative classroom features cutting-edge technology and was designed to accommodate various learning styles, demonstrating ODP's commitment to business growth and continuing education through Disney's curriculum.
The ODP (NASDAQ:ODP) has scheduled its third quarter 2024 financial results announcement for Wednesday, November 6th, 2024, before market open. The company will host a webcast conference call with financial analysts and investors at 9:00 am Eastern Time on the same day. The webcast will be accessible through ODP's Investor Relations website, with a replay available approximately two hours after the event. Earnings press release, supplemental financial disclosures, and presentation materials will also be made available on the website.
VEYER, a leading fulfillment and distribution company, has opened a new direct import and deconsolidation center in Savannah, Ga. The 157,000-square-foot facility, part of a larger 500,000-square-foot building, will focus on handling bulky items like furniture and employ 12 dedicated staff. This marks the final step in VEYER's project to transition all warehouses to company-operated locations.
The Savannah center will support five nearby fulfillment centers and cross docks, including sites in Buford, Ga., and Orlando, Fla. It joins VEYER's network of four direct import centers across the US, with others located in Garden Grove, Calif., Grand Prairie, Texas, and Newville, Pa. In total, VEYER operates 40 fulfillment centers across North America, enhancing supply chain efficiency and cost savings for customers.
Office Depot has announced its Depot Discount Days event, running from October 3 to October 12. This sale offers up to 50% off on furniture, technology, and more, both online and in Office Depot and OfficeMax stores nationwide. Highlighted deals include:
- $190 savings on a Realspace® Electric Height-Adjustable Standing Desk
- $150 off a Realspace® Modern Comfort Winsley Office Chair
- $270 savings on an ASUS® Vivobook Go Laptop (available October 6-12 only)
The company encourages customers to join their free Rewards program for exclusive member pricing. Shoppers can take advantage of same-day delivery on eligible items or 20-minute in-store pickup for added convenience.
FAQ
What is the current stock price of The ODP Corporation (ODP)?
What is the market cap of The ODP Corporation (ODP)?
What is The ODP Corporation's main business?
Who are the primary customers of ODP Business Solutions?
How does the Office Depot Division serve its customers?
What is the focus of the Veyer Division?
What innovative solutions does the Varis Division provide?
What was The ODP Corporation's annual sales figure in 2016?
How many associates does The ODP Corporation employ?
How extensive is The ODP Corporation's retail network?
What are some of The ODP Corporation's affiliate brands?
What sectors does The ODP Corporation's integrated B2B distribution platform cover?
