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.
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.
The ODP Corporation (NASDAQ:ODP) announced that Kevin Moffitt, EVP and chief retail officer, will deliver a keynote speech at eTail Palm Springs 2022, focusing on the theme Connected Commerce: Combining Humanity and Technology to Create Retail’s Future. The keynote is scheduled for 8:25 a.m. PST. This event highlights ODP's commitment to providing innovative business services and digital solutions through its integrated B2B distribution platform, serving a variety of business types via brands like Office Depot and ODP Business Solutions.
The ODP Corporation (NASDAQ: ODP) reported Q4 2021 revenue of $2.0 billion, a 2% decline year-over-year, primarily due to 116 fewer retail locations. However, GAAP operating income rose to $31 million from $20 million in Q4 2020, with a net income of $32 million or $0.61 per diluted share. For the full year, total sales reached $8.5 billion, down 5% from 2020, but operating income increased significantly to $234 million. The company committed over $300 million to shareholders through stock buybacks in 2021 and advanced initiatives in its B2B and digital platforms, despite macroeconomic challenges.
The ODP Corporation (NASDAQ:ODP) launched Elevate Together™ to support Black- and Hispanic-owned small businesses. In its first year, the initiative raised nearly
The ODP Corporation (NASDAQ:ODP) will release its fourth quarter and full year 2021 financial results on February 23, 2022, before market open. A conference call for analysts and investors is scheduled for 9:00 AM ET on the same day, accessible to the public via a webcast on the company's investor relations website. ODP Corporation operates a comprehensive B2B distribution platform, offering business services, supplies, and digital workplace technology through notable brands such as Office Depot and ODP Business Solutions.
Office Depot continues its commitment to women's entrepreneurship by fully funding 600 scholarships for the Selfmade course in 2022. This initiative, aimed at women from underrepresented communities, will provide free access to a 10-week virtual startup program, alongside curated resources to assist in business growth. Since its launch in 2020, over 2,400 women have engaged with Selfmade, with Office Depot supplying 800 full scholarships. The company aims to empower women entrepreneurs, particularly in light of the pandemic's economic challenges.
Office Depot (NASDAQ:ODP) has been named the official sponsor of Disney Institute Online Courses and National Geographic Live events in North America for 2022. This collaboration aims to support personal growth through professional development and educational presentations. Participants in Disney Institute courses will receive a special link for Office Depot supplies, along with a complimentary Disney art print for certain orders. The National Geographic Live tour includes 215 events across the U.S. and Canada, enhancing Office Depot's community engagement and sustainability efforts.
The ODP Corporation (NASDAQ:ODP) announced a delay in its planned public company separation to consider offers for its consumer business. USR Parent, Inc. has proposed a $1 billion cash acquisition for the consumer segment, encompassing Office Depot and OfficeMax retail operations. Additionally, another undisclosed third-party proposal has been received. The ODP Board is assessing both proposals with financial and legal advisors, emphasizing a focus on maximizing shareholder value. There is uncertainty regarding the sale and its terms, along with ongoing evaluations of the company’s strategic direction.
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