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Last $9.30 USD
Change Today +0.04 / 0.43%
Volume 2.9M
ODP On Other Exchanges
As of 8:10 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

office depot inc (ODP) Snapshot

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52 Week High
02/6/15 - $9.77
52 Week Low
10/15/14 - $4.26
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Current Stock Chart for OFFICE DEPOT INC (ODP)

office depot inc (ODP) Details

Office Depot, Inc., together with its subsidiaries, supplies office products and services. The company’s North American Retail division sells an assortment of merchandise, including office supplies, technology products and solutions, business machines and related supplies, facilities products, and office furniture under various brands through its chain of office supply stores. Its North American Business Solutions division sells branded office supplies, technology products, cleaning and breakroom supplies, office furniture, and other solutions, as well as copy and print services to small, medium, and large-sized businesses through a sales force, catalogs, telesales, and Internet sites. The company’s International division sells office products and services through direct mail catalogs, contract sales forces, Internet sites, and retail stores through company-owned operations, joint ventures, licensing and franchise agreements, alliances, and other arrangements. As of December 27, 2014, this segment sold it products to customers in 54 countries throughout Europe, Asia/Pacific, and Latin America; and operated 146 retail stores in France, South Korea, Sweden, New Zealand, and Australia. This division also participates under licensing and merchandise arrangements in Latin America, Europe, Israel, and Japan. The company offers its products under various labels, including Office Depot, OfficeMax, Foray, Ativa, TUL, Realspace, WorkPro, Brenton Studio, Highmark, Grand & Toy, and Viking Office Products. Office Depot, Inc. was founded in 1986 and is headquartered in Boca Raton, Florida.

56,000 Employees
Last Reported Date: 02/24/15
Founded in 1986

office depot inc (ODP) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.4M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $750.0K
President of North America
Total Annual Compensation: $876.0K
Executive Vice President and President of Int...
Total Annual Compensation: $675.0K
Chief People Officer and Executive Vice Presi...
Total Annual Compensation: $1.0M
Compensation as of Fiscal Year 2014.

office depot inc (ODP) Key Developments

Office Depot, Inc. Agrees to Pay $3.4 Million Civil Penalty, Implement Internal Compliance Program for Failure to Report Defective Office Chairs

The U.S. Consumer Product Safety Commission (CPSC) announced that Office Depot Inc. has agreed to pay a $3.4 million civil penalty to settle CPSC staff's charges that Office Depot knowingly failed to report to CPSC, as required by federal law, defects and an unreasonable risk of serious injury concerning two models of office chairs the Quantum and the Gibson. The seatbacks of both models failed, resulting in multiple back and other injuries. Federal law requires parties like Office Depot to report to CPSC immediately (within 24 hours) about a consumer product containing a defect that could create a substantial product hazard or presenting a risk of serious injury. Office Depot received dozens of reports of seatback failures and related injuries involving both the Quantum chairs and the Gibson chairs. Office Depot never reported the Quantum chair hazard to CPSC, and reported the Gibson chair hazard only after receiving a request from staff. By the time the Quantum chair and the Gibson chair were recalled, Office Depot had received 33 and 153 reports, respectively, of seatback detachment from the chairs, and 14 and 25 reports, respectively, of injuries, some requiring medical attention. In addition to paying the $3.4 million civil penalty, Office Depot has agreed that the company has, and shall maintain, a compliance program designed to ensure compliance with the Consumer Product Safety Act and a related system of internal controls and procedures. The compliance program must include written standards and policies designed to convey information obtained from sources such as complaints, parts requests, and incident reports to personnel responsible for CPSC compliance.

Office Depot, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 28, 2015; Announces Asset Impairment Charges for the First Quarter Ended March 28, 2015; Provides Earnings Guidance for the Full Year of 2015

Office Depot, Inc. announced unaudited consolidated earnings results for the first quarter ended March 28, 2015. For the quarter, the company reported sales of $3,877 million against $4,354 million a year ago. Operating income was $88 million against operating loss of $79 million a year ago. Income before income taxes was $70 million against loss before income taxes of $97 million a year ago. Net income attributable to common shareholders was $45 million against net loss attributable to common shareholders of $109 million a year ago. Basic and diluted income per share was $0.08 against basic and diluted loss per share of $0.21 a year ago. Net cash used in operating activities was $46 million against $74 million a year ago. Capital expenditures were $27 million against $39 million a year ago. Adjusted operating income was $135 million against $68 million a year ago. Adjusted net income attributable to common stockholders was $71 million against $37 million a year ago. Adjusted net earnings per common share were $0.13 against $0.07 a year ago. Adjusted operating income for the first quarter of 2015 excludes special charges and credits totaling $48 million, which were comprised of $30 million in expenses related to the Office Depot/OfficeMax merger and the pending acquisition by Staples, $13 million in International restructuring charges, and $5 million in non-cash store impairment charges. For the quarter, the company reported asset impairment charge of $5 million against $50 million a year ago. The company continues to expect total company sales in 2015 to be lower than 2014, primarily due to its decision to close certain stores, the negative impact of currency translation, business disruption from the announcement of the pending acquisition by Staples, and continued challenging market conditions. In 2015, total company capital expenditures is expected to be approximately $230 million, including approximately $80 million related to merger integration. Total company depreciation and amortization is expected to be approximately $300 million in 2015. The company expects approximately $250 million of merger integration expenses will be required during the 2015-2016 period, approximately half of which is related to optimizing the U.S. retail store portfolio by closing approximately 135 stores in 2015 and at least 100 stores in 2016. The company anticipates integration capital spending of approximately $160 million during the 2015-2016 period. Additionally, in 2015 the company estimates it will incur approximately $100 million of expenses related to the pending acquisition by Staples, primarily employee retention costs and advisory fees, including $15 million incurred in the first quarter of 2015.

Office Depot, Inc. to Report Q1, 2015 Results on May 05, 2015

Office Depot, Inc. announced that they will report Q1, 2015 results at 9:00 AM, Eastern Standard Time on May 05, 2015


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