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 is sponsoring 400 Selfmade scholarships in 2023 to support female entrepreneurs. This initiative enables underserved women to access resources and mentorship to launch and grow their businesses through the Selfmade program, which has already guided over 3,500 women since 2020. Scholarships cover the Grow membership, offering on-demand courses, expert mentorship, and a supportive community. Notable past speakers include Sara Blakely and Shiza Shahid. Applications for the scholarships are due by March 14, 2023. The program aims to empower women in business and enhance their entrepreneurial journeys.
ODP Business Solutions announces its participation in California’s mandatory Statewide Contracts for PC Goods, supplying Lenovo technology products including desktops, laptops, and accessories to the Department of General Services. This contract, valid for three years with potential extensions, allows California departments to procure Lenovo products at competitive prices while promoting sustainability. ODP will also collaborate with Granite Data Solutions for asset recovery services, enabling cost savings through trade-ins. This initiative aligns with California’s strategic vision of utilizing accessible technology and supports local economic growth.
HCLTech has been selected as the primary IT partner for ODP (NASDAQ:ODP) to support its digital transformation and IT operations across its Office Depot and ODP Business Solutions units. This partnership aims to enhance ODP's IT capabilities through automation and AI, promoting a more agile and product-centric approach. CEO Gerry Smith expressed excitement about the collaboration, emphasizing its alignment with ODP's low-cost model and business strategy, while HCLTech's CEO highlighted the partnership's potential to elevate operational performance in response to evolving consumer demands.
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
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.
- 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.
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