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.
ODP Business Solutions has launched its 2022 Diverse Supplier Catalog, featuring over 1,400 products from certified minority-, women-, disabled-, LGBTQ+-, veteran-owned, and small businesses. The catalog includes a variety of product categories, with more than 600 items showcasing eco-attributes. Notable new vendors are Centon Electronics and Innovation Computers. This initiative aims to enhance supplier diversity for organizations while supporting small businesses. The president, David Centrella, emphasized the importance of diversity in procurement.
The ODP Corporation (NASDAQ:ODP) has decided to retain its B2B and B2C businesses under common ownership, following a review of acquisition proposals for its consumer segment. The Board unanimously concluded that maintaining the consumer business is in the best interests of the company and its shareholders. Additionally, ODP anticipates strong second-quarter performance, projecting revenues of around $2.0 billion and adjusted EBITDA of $85 to $90 million. The company continues to focus on enhancing value through its integrated distribution platform and realigning its operational structure.
The ODP Corporation has partnered with Taylor Corporation, Meda, and the Latino Chamber of Commerce of Minnesota to support Black and Hispanic small businesses through the Elevate Together initiative. Launched in 2021, the program has invested nearly
The ODP Corporation (NASDAQ:ODP) announced the promotion of David Centrella to Executive Vice President and President of ODP Business Solutions, replacing Stephen M. Mohan, who will leave the company. Centrella, who has over 30 years of experience and joined in 1998, aims to enhance B2B operations and customer service. CEO Gerry Smith emphasized Centrella's strong leadership skills and deep industry knowledge as vital for driving profitable growth.
The ODP Corporation reported first-quarter 2022 revenue of $2.2 billion, showing no growth compared to the previous year. GAAP operating income increased to $76 million, while net income declined to $55 million, or $1.09 per diluted share. Adjusted EPS was $1.27. The Business Solutions Division saw a 9% sales increase due to improving back-to-office trends, despite a 9% drop in Retail Division sales. The company is focused on strategic initiatives, including a potential sale of its Consumer business and progress on its Varis digital platform, while managing ongoing supply chain challenges.
The ODP Corporation (NASDAQ: ODP) is set to announce its first quarter 2022 financial results before market open on May 4, 2022. A conference call for investors and financial analysts will occur at 9:00 am Eastern Time, accessible to the media and the public. The results will be available on the company’s Investor Relations website, which includes a replay of the call and supplemental disclosures. ODP is a prominent provider of business services and digital solutions, operating through various banner brands, and maintaining approximately 1,000 stores.
Instacart and Office Depot announce a partnership to offer same-day delivery from over 1,000 Office Depot and OfficeMax locations across the U.S. This collaboration enables more than 70 million households to access a variety of office and school supplies, enhancing convenience for customers amid ongoing remote work trends. This initiative aims to address growing demand as Instacart continues expanding its offerings, showcasing their commitment to providing essential goods quickly and efficiently.
The ODP Corporation has announced the appointment of Sarah E. Hlavinka as Executive Vice President, Chief Legal Officer, and Corporate Secretary, effective upon the departure of David Bleisch. Hlavinka, who has over 30 years of legal experience in various industries, will lead the company's legal operations and compliance. CEO Gerry Smith expressed excitement over her joining, stating she brings a proven track record in corporate governance and risk management, crucial for ODP’s ongoing transformation into a leading B2B distribution platform.
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