The ODP Corporation - ODP STOCK NEWS

Office Depot is launching thousands of deals on office essentials, including furniture, electronics, and school supplies, to support small businesses and educational clients. Customers can benefit from a rapid 20-minute in-store and curbside pickup service, as well as savings on shipping through FedEx until December 24. The retailer emphasizes its range of promotions, including seasonal gift guides and discounted eGift cards. Office Depot aims to help clients efficiently complete end-of-year tasks while preparing for the upcoming year.

Office Depot, a leading omnichannel retailer, announces Black Friday promotions available online and in-store from November 25-28. Customers can enjoy free same-day delivery and 20-minute in-store and curbside pickup on qualifying orders. Notable offers include HP laptops with discounts up to $255 and custom cards at 50% off. Additional deals feature substantial savings on popular items such as Dell laptops and office furniture. The retailer emphasizes its commitment to small businesses and productivity, with exclusive discounts for Rewards Program members during this shopping season.

project44 has successfully raised $80M in a funding round led by Generation Investment Management and A.P. Moller Holding, valuing the company at $2.7 billion, a 12% increase from its prior valuation. The funds will enhance project44's capabilities in supply chain and emissions visibility, which is crucial for meeting evolving carbon reporting requirements. With $134M in annual recurring revenue (ARR) and a growth rate of 70% year-over-year, project44 is on track for profitability. The company continues to innovate and expand its network to serve over 1,200 customers.

The ODP Corporation (NASDAQ:ODP) has announced a $1 billion share repurchase plan through 2025 as part of its commitment to enhance shareholder value. The company revealed its long-term financial targets, aiming for stable revenue growth and increased Adjusted EPS from approximately $4.10-4.50 in 2022 to $7.00-8.00 by 2025. The realignment of its business units—Office Depot, ODP Business Solutions, Veyer, and Varis—aims to improve transparency and performance metrics, ultimately pursuing a strategy for profitable growth and margin expansion.

The ODP Corporation reported third-quarter revenue of $2.2 billion, remaining flat compared to the previous year. The company achieved a GAAP EPS of $1.36 and adjusted EPS of $1.48. Despite strong performance in the ODP Business Solutions division, net income decreased to $67 million from $73 million year-over-year. Operating income was $84 million, down from $104 million. The company announced a new $1 billion share buyback plan through 2025, emphasizing focus on shareholder value and long-term growth opportunities.

Office Depot, a major omnichannel retailer, announced plans to assist shoppers during the busy holiday season. The company emphasizes significant savings on technology, furniture, and supplies, complemented by a 20-minute in-store pickup service. Key initiatives include:

• Rewards Event: From Nov. 13-19, up to 50% savings for rewards members.
• Black Friday Sales: Starts at 12:01 a.m. ET on Thanksgiving.
• Teacher Discounts: 30% bonus rewards on educational supplies.

For more details, visit officedepot.com.

The ODP Corporation (NASDAQ:ODP) will announce its third quarter 2022 financial results on November 2, 2022, at 9:00 am ET. CEO Gerry Smith and his executive team will discuss the company’s four business units and capital allocation strategies during a virtual investor day event. The event will include a Q&A session, providing investors with insights into ODP's growth trajectory and future plans. Additional information and earnings materials will be available on ODP's investor relations website.

Office Depot announced contributions of nearly $4 million in technology, furniture, and supplies to Title I elementary schools across the U.S. The initiative aims to support economically disadvantaged students. The Start Proud! program provided 18,000 backpacks with essential school supplies, valued at over $1.8 million. Additionally, nearly $2.2 million was raised through customer donations for further educational support. This effort illustrates Office Depot's commitment to enhancing classroom experiences and easing financial burdens for families and teachers.