Posted on August 9, 2017 by Retail News Editor

Office Depot, Inc. to roll out same-day delivery in Atlanta, GA and Los Angeles, CA and Ft. Lauderdale/Miami, FL

Boca Raton, Fla., 2017-Aug-09 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office supplies, business products and services delivered through an omnichannel platform, today (August 7, 2017) announced same-day delivery powered by Deliv–a leading crowdsourced, last-mile logistics company providing same-day delivery and returns for omnichannel retailers, local businesses and e-commerce companies–is launching on August 28 in Atlanta, Georgia and Los Angeles, California; and on September 6 in Ft. Lauderdale/Miami, Florida. The same-day delivery service is designed to better meet customer expectations as the omnichannel shopping experience continues to expand.

“With our new same-day delivery and our omnichannel approach, we are utlizing our retail stores as assets and part of our supply chain to give our customers the best possible experience,” said Gerry Smith, chief executive officer of Office Depot, Inc.

Customers who shop on officedepot.com will have the option of scheduled same-day delivery between 8 a.m. and 11 a.m., 11 a.m. to 2 p.m., 2 p.m. to 5 p.m. or 5 p.m. to 8 p.m., depending upon the time of day they shop. For a limited time, Office Depot plans to waive the delivery fee as an introductory offer.

“Retail is undergoing a rapid transformation,” said Kevin Moffitt, senior vice president and chief digital officer at Office Depot, Inc. “To exceed our customers’ increasing expectations, we continue to enhance our omnichannel shopping experience. Adding same-day delivery capabilities to our growing in-store pickup and ship-from-store programs allows us to better leverage our retail locations as distribution hubs, and serve our customers faster and more efficiently.”

Deliv’s technology enables Office Depot customers to select the delivery times and locations that work best for them while being able to track their purchases in real-time.

“Office Depot is now providing businesses with the type of service customers expect,” said Daphne Carmeli, chief executive officer and founder at Deliv. “I am pleased that Deliv was chosen as its partner to power this new offering.”

By the end of 2017, same-day delivery is expected to roll out in several additional markets.

Click here for b-roll.

About Office Depot, Inc.
Office Depot, Inc. is a leading provider of office supplies, business products and services delivered through an omnichannel platform.

The company had 2016 annual sales of approximately $11 billion, employed approximately 38,000 associates, and served consumers and businesses in North America and abroad with approximately 1,400 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – with a global network of wholly owned operations, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax and Grand & Toy. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and Highmark.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol “ODP.”

Office Depot is a trademark of The Office Club, Inc. OfficeMax is a trademark of OMX, Inc. ©2017 Office Depot, Inc. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.

Source: Office Depot, Inc.

Posted on March 23, 2017 by Retail News Editor

Office Depot, Inc. announces partnership with Silverback Learning Solutions to help foster student and educator achievement

BOCA RATON, Fla., 2017-Mar-23 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading global provider of office products, services, and solutions, today (March 20, 2017) announced a partnership with Silverback Learning Solutions, a pioneering K-12 education technology company, to bring districts and administrators personalized learning solutions that help foster student and educator achievement.

The unique partnership combines Office Depot, Inc.’s Committed to Learning™ initiative with Silverback Learning Solutions’ education software Mileposts™, Teacher Vitae and EdifyAssess, powered by Silverback Learning, which allow teachers and districts to personalize education learning plans while managing interventions and monitoring achievement.

Office Depot, Inc. works with school districts across the country to help implement innovative technology and educational tools that help meet the changing needs of students. Through this partnership, school districts and teachers have access to flexible solutions where they can customize individual plans for students and shift additional time spent on planning to teaching in the classroom.

“Silverback Learning Solutions’ pledge to personalized education aligns with Office Depot’s Commitment to Learning™,” said Becki Schwietz, senior director of growth strategies for Office Depot, Inc. “From our perspective, it’s an innovative approach to the direction of education in the future, and we are excited to be involved.”

Another benefit of the partnership that’s now available to school districts is an extensive professional learning program and personalized instruction based on real-time student data through Silverback’s Teacher Vitae and EdifyAssess.

“We are honored to partner with Office Depot on our personalized learning solutions to administrators and school districts,” said Dr. Jim Lewis, founder and CEO of Silverback Learning Solutions. “Through Office Depot Inc.’s Committed to Learning™, school districts will have a team of education experts ready to demonstrate, implement and execute our Silverback Learning Solutions software, while being supported every step of the way.”

Office Depot, Inc. collaborates with school districts and other educational institutions through the company’s Committed to Learning™ initiative, which offers educators access to a national team of curriculum and instruction experts across disciplines. Through the Committed to Learning™ initiative, the company partners with school districts to meet their strategic goals by providing instructional solutions and access to experts that enrich the learning experience in the areas of personalized learning, project-based learning and innovative learning spaces, culture and wellness, instructional resources, and supplies.

To learn more, visit www.officedepot.com/education or email us directly at committedtolearning@officedepot.com.

About Office Depot, Inc.

Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school or car.

The company had annual sales of approximately $11 billion, employed approximately 38,000 associates, and served consumers and businesses in North America and abroad with approximately 1,400 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – with a global network of wholly owned operations, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax and Grand & Toy. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and HighMark.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol “ODP.”

All trademarks, service marks and trade names of Office Depot, Inc. and OfficeMax Incorporated used herein are trademarks or registered trademarks of Office Depot, Inc. and OfficeMax Incorporated, respectively. Any other product or company names mentioned herein are the trademarks of their respective owners.

About Silverback Learning Solutions

Silverback Learning Solutions is founded by a former superintendent and continues to be enriched by educators. We deliver solutions focused on the individual learner, the classroom, and the district with personalized learning and growth at the core. Our award-winning company delivers a complete suite of products – Mileposts™, Teacher Vitae and EdifyAssess powered by Silverback. Students, teachers, administrators, and superintendents use Silverback solutions to drive intentional instruction for greater achievement and they are found in K – 12 schools and districts throughout the U.S. Please visit us at www.silverbacklearning.com

Contact:
Julianne Embry
561-438-1451
julianne.embry@officedepot.com

Edelman
Amanda Olson,
512-634-3661
amanda.olson1@edelman.com

Source: Office Depot, Inc.

Posted on March 6, 2017 by Retail News Editor

Office Depot, Inc. reports improved profitability in 2016

Q4 2016 GAAP Diluted EPS from Continuing Operations of $0.10 versus $0.06 in Q4 2015
Realizes $700 Million in OfficeMax Integration Synergies
Completes Sale of European Business

BOCA RATON, Fla., 2017-Mar-06 — /EPR Retail News/ — Office Depot, Inc. (“Office Depot,” or the “company”) (NASDAQ: ODP), a leading global provider of office products, services, and solutions, today ( March 1, 2017) announced results for the fourth quarter and full year ended December 31, 2016.

“I am very excited to assume the role of CEO and to inherit a business with such positive earnings trends. Office Depot delivered another year of improved profitability in 2016, exceeding the full-year adjusted operating income guidance, despite experiencing substantial business disruption related to the Staples acquisition attempt,” said Gerry Smith, newly appointed chief executive officer of Office Depot. “The company made significant progress against its 2016 critical priorities and achieved substantial integration synergies, thanks to the hard work, commitment and dedication of the management team and associates. I believe we can continue this momentum in 2017, as we focus on stabilizing the top line, implementing our cost saving programs and executing on the key initiatives of the three-year strategic plan.”

Consolidated Results

Reported (GAAP) Results

Total reported sales for the fourth quarter of 2016 were $2.7 billion compared to $2.8 billion in the fourth quarter of 2015, a decrease of 2%. Sales for the full year 2016 were $11.0 billion, a decline of 6% compared to the prior year. Fourth quarter and full year sales benefited from the impact of a 53rd week in fiscal 2016 of approximately $143 million.

In the fourth quarter of 2016, Office Depot reported operating income of $57 million and net income of $80 million, or $0.15 per diluted share. Net income from continuing operations was $55 million, or $0.10 per diluted share. The fourth quarter of 2016 was favorably impacted by approximately $15 million of operating income from the additional 53rd week, primarily in the North American Retail Division.

In the fourth quarter of 2015, the company reported operating income of $42 million and net income of $15 million, or $0.03 per diluted share. Net income from continuing operations was $31 million, or $0.06 per diluted share.

For the full year 2016, Office Depot reported operating income of $531 million compared to operating income of $183 million in the prior year period, and net income from continuing operations of $679 million, or $1.24 per diluted share in 2016, compared to net income from continuing operations of $92 million, or $0.16 per diluted share in the full year 2015.

Adjusted (non-GAAP) Results (1)

Adjusted operating income for the fourth quarter of 2016 was $111 million compared to an adjusted operating income of $83 million in the fourth quarter of 2015. Adjusted net income from continuing operations for the fourth quarter of 2016 was $59 million, or $0.11 per diluted share, compared to adjusted net income from continuing operations of $35 million, or $0.06 per diluted share, in the fourth quarter of 2015.

Adjusted operating income for the fourth quarter of 2016 excludes special charges and credits totaling $55 million, which were comprised of $30 million in restructuring charges, $13 million in expenses related to the Office Depot/OfficeMax merger, $6 million in non-cash asset impairment charges and $6 million in executive transition costs.
Adjusted net income from continuing operations in the fourth quarter of 2016 excludes the after-tax impact of these items.

For the full year 2016, adjusted operating income was $471 million, compared to adjusted operating income of $438 million in the full year 2015. The full year 2016 adjusted net income from continuing operations was $251 million, or $0.46 per diluted share, compared to adjusted net income from continuing operations of $222 million, or $0.40 per diluted share in the full year 2015.

Sale of European Business

As previously announced on September 23, 2016, Office Depot reached a deal to sell its European business and the sale was successfully completed on December 31, 2016. Following the closing, the company’s European business is no longer part of the company’s ongoing operations. See the U.S. Securities and Exchange Commission (the “SEC”) Current Report on Form 8-K filed on January 5, 2017 for additional information.

The company’s international businesses located in Australia, New Zealand, South Korea and mainland China continue to be actively marketed for sale and are reported as discontinued operations, with the expectation that the divestiture process will be completed in 2017. The company currently plans to retain its sourcing and trading operations in Asia and the results for these operations are reported as an “Other” segment outside of the North American segments. These ongoing sourcing and trading businesses contributed $18 million in sales and $1 million in operating income for the full year 2016.

Corporate Results

Corporate includes support staff services and certain other expenses that are not allocated to the company’s operating divisions. Unallocated expenses increased to $31 million in the fourth quarter of 2016 compared to $21 million in the fourth quarter of 2015 driven primarily by executive transition costs and the impact of the 53rd week of approximately $3 million.

Balance Sheet and Cash Flow

As of December 31, 2016, Office Depot had $0.8 billion in cash and cash equivalents and approximately $1.0 billion available under the Amended and Restated Credit Agreement, for total available liquidity of approximately $1.8 billion. Total debt was $387 million, excluding $798 million of non-recourse debt related to the credit-enhanced timber installment notes.

For the full year 2016, the company generated $492 million of cash provided by operating activities of continuing operations, including the $250 million Staples termination agreement fee, partially offset by $122 million in acquisition-related expenses, $113 million in OfficeMax merger–related costs and $47 million in restructuring costs. Capital expenditures were $111 million in 2016, $27 million of which were related to the merger integration. Free cash flow(2)from continuing operations for the full year 2016 was $380 million.

Office Depot paid a quarterly cash dividend of $0.025 per share on December 15, 2016 for approximately $13 million. For the full year, the company paid approximately $26 million in dividends.

During the fourth quarter, the company repurchased approximately 14 million shares at a total cost of $51 million. As of December 31, 2016, Office Depot had repurchased approximately 37 million shares in 2016 at a total cost of $132 million, with $118 million remaining available for repurchase under the current $250 million buyback authorization.

Outlook (3)

Office Depot expects total company sales in 2017 to be lower than 2016, primarily due to the impact of store closures, prior year contract customer losses, one less selling week and continued challenging market conditions. However, the company expects the rate of sales decline to improve throughout 2017 based on improvements in customer retention, implementation of new customer wins and continued growth in the contract channel sales pipeline.

The company closed 123 retail stores in 2016, of which 72 stores were part of the second phase of the retail optimization plan announced in the third quarter of 2016. The company expects to close approximately 75 stores in 2017.

Through the end of 2016, Office Depot has achieved over $700 million in annual synergy benefits from the OfficeMax integration. The company continues to expect total annual run-rate merger synergy benefits of more than $750 million, with the majority of the remaining benefits expected to be achieved by the end of 2017. Merger integration expenses are expected to total approximately $45 million in 2017 with approximately $25 million in capital expenditures.

As part of the new cost saving program announced last year, the company expects to deliver over $250 million in annual benefits by the end of 2018 with about half of those benefits anticipated to be realized in 2017. In addition, the company estimates it will incur up to approximately $125 million in one-time costs and capital expenditures to implement the cost saving programs, with the majority of these costs incurred through 2017.

The company continues to expect to achieve approximately $500 million in adjusted operating income in fiscal 2017, a comparable year-over-year increase of about 10%, excluding the $15 million estimated 53rd week operating income benefit in 2016.

In 2017, capital expenditures are expected to be approximately $200 million including investments to support the company’s critical priorities and the Store of the Future test format. The company anticipates having about 100 stores converted to this new format by the end of 2017. Depreciation and amortization is expected to be approximately $150 million in 2017.

Office Depot anticipates free cash flow(2) from continuing operations to be more than $300 million in 2017.

The company anticipates an estimated cash tax rate of 15% as the company continues to utilize available tax operating loss carry forwards and credits and a non-GAAP effective tax rate of approximately 41% in fiscal 2017, dependent on the mix and timing of income.

(2) Free cash flow is defined as net cash provided by operating activities less capital expenditures.

(3) The company’s outlook for 2017 included in this release, excludes charges or credits not indicative of our core operations, which may include but not be limited to merger integration expenses, restructuring charges, asset impairments, and other significant items that currently cannot be predicted. The exact amount of these charges or credits are not currently determinable, but may be significant. Accordingly, the company is unable to provide equivalent reconciliations from GAAP to non-GAAP for these financial measures.

About Office Depot, Inc.

Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school or car.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol “ODP.”

FORWARD LOOKING STATEMENTS

This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, or state other information relating to, among other things, Office Depot, based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of Office Depot’s control. There can be no assurances that Office Depot will realize these expectations or that these beliefs will prove correct, and therefore investors and stockholders should not place undue reliance on such statements.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, impacts and risks related to the termination of the Staples acquisition, disruption in key business activities or any impact on Office Depot’s relationships with third parties as a result of the announcement of the termination of the Staples Merger Agreement; unanticipated changes in the markets for Office Depot’s business segments; the inability to realize expected benefits from the disposition of the European operations; fluctuations in currency exchange rates, unanticipated downturns in business relationships with customers or terms with the company’s suppliers; competitive pressures on Office Depot’s sales and pricing; increases in the cost of material, energy and other production costs, or unexpected costs that cannot be recouped in product pricing; the introduction of competing technology products and services; unexpected technical or marketing difficulties; unexpected claims, charges, litigation, dispute resolutions or settlement expenses; new laws, tariffs and governmental regulations. The foregoing list of factors is not exhaustive. Investors and stockholders should carefully consider the foregoing factors and the other risks and uncertainties described in Office Depot’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Office Depot does not assume any obligation to update or revise any forward-looking statements.

Contact:
Richard Leland
561-438-3796
Investor Relations
Richard.Leland@officedepot.com

Karen Denning
630-438-7445
Media Relations
Karen.Denning@officedepot.com

Source: Office Depot, Inc.

Posted on January 31, 2017 by Retail News Editor

Office Depot, Inc. announces the appointment of Gerry P. Smith as new CEO

BOCA RATON, Fla., 2017-Jan-31 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading global provider of office supplies and services, today ( January 30, 2017) announced that its Board of Directors has appointed Gerry P. Smith as Chief Executive Officer of the company, effective February 27, 2017. Gerry Smith will succeed current CEO Roland Smith, who previously announced his intention to retire from the company.

An experienced executive, Gerry Smith currently serves as Executive Vice President and Chief Operating Officer at Lenovo Group, a $45 billion leading global technology company. During his time at Lenovo, he was instrumental in defining and leading the company’s ambitious growth objectives and operational efficiencies, which drove increases in market share and profitability.

“On behalf of the Board, I’m pleased that we recruited a leader with Gerry’s broad skill set to lead Office Depot at this important time in the company’s history,” said Warren Bryant, Lead Director of the Board of Directors and Chair of the CEO Search Committee. “Gerry possesses significant operating expertise, having successfully led business units across Lenovo’s entire product portfolio, including an industry recognized supply chain organization. His long-standing relationships with some of Office Depot’s largest suppliers will enable him to quickly transition into the role. Additionally, we are impressed with Gerry’s demonstrated ability to lead large, complex organizations.”

“I am delighted to accept the position of Chief Executive Officer at Office Depot,” said Gerry Smith. “Roland and his team have implemented a compelling three-year strategy and clearly put the company on a positive trajectory. I look forward to continuing the company’s momentum and identifying additional opportunities to provide customers with an exceptional experience, drive innovation and growth in products and services, while delivering value to the company’s shareholders.”

“Roland has been an outstanding CEO and, on behalf of the entire Board, I’d like to express our sincere appreciation for his leadership,” continued Bryant. “He has consistently delivered positive results, led the successful integration of Office Depot and OfficeMax to achieve synergies and efficiencies significantly exceeding original expectations, and he created and implemented a new three-year strategic plan. As a result of his contributions, the company is well positioned for continued future success.”

“As I communicated last fall, stepping away from Office Depot has not been an easy decision,” said Roland Smith. “I’m extremely proud of what our management team and associates have accomplished. During the past three years, we have delivered a significant improvement in profitability, made substantial progress on all the components of our strategic plan and now have an incoming CEO with an outstanding track record of producing results. With that solid foundation, now is the right time for me to focus on realizing some of my personal ambitions. I want to thank the entire Office Depot team for their incredible hard work, dedication and support during my tenure.”

In connection with this transition, the Board sought to diversify the overall corporate governance structure with the selection of an independent non-executive Board Chairman to lead the Board of Directors. Current Board member Joseph S. Vassalluzzo will become Chairman effective February 27, 2017. Vassalluzzo joined the Office Depot Board in August 2013 and currently serves as Chair of the Finance and Integration Committee. He also serves as Non-Executive Chairman of the Board for Federal Realty Investment Trust and previously served as Lead Director for Lifetime Fitness. Earlier, he was employed by Staples, Inc., most recently as Vice Chairman.

In conjunction with his appointment as CEO, Gerry Smith will also join the Office Depot Board as a director.

The company plans to release its fourth quarter financial results on March 1, 2017.

About Gerry P. Smith

Prior to joining Office Depot, Inc., Gerry Smith served as Executive Vice President and Chief Operating Officer of Lenovo Group. Gerry joined Lenovo in 2006 and was instrumental in the company’s growth to become the largest personal computer (PC) company. He was also a leader in building the company’s global brand recognition and expansion during the past decade. In his role as Executive Vice President and Chief Operating Officer, he was responsible for all operations across Lenovo’s $45 billion global product portfolio.

Previously as Chief Operating Officer of the Personal Computing Group and Enterprise Business Group, he led Lenovo to the top position in world-wide PC sales and as President of the Americas, he led Lenovo’s America’s Group to record market share and profits. He also served as Senior Vice President of Lenovo’s Global Supply Chain, where his leadership was recognized by leading research firm, Gartner, in ranking Lenovo’s supply chain among the best in the world.

Prior to Lenovo, Gerry had a number of executive positions at Dell, as the company became a global leader in PCs. In his last role, he built the Dell Singapore Design Center and led Dell to the leading market position in flat panels as Vice President and General Manager of Displays.

He is a graduate of Pacific Lutheran University.

About Office Depot, Inc.

Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school or car.

Office Depot, Inc. is a resource and a catalyst to help customers work better. We are a single source for everything customers need to be more productive, including the latest technology, core office supplies, print and document services, business services, facilities products, furniture, and school essentials.

As of our most recent filed annual report for fiscal year ended 2015, the Company had annual sales of approximately $14 billion, employed approximately 49,000 associates, and served consumers and businesses in 59 countries with approximately 1,800 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – all delivered through a global network of wholly owned operations, franchisees, licensees and alliance partners. The Company operates under several banner brands including Office Depot, OfficeMax and Grand & Toy. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and HighMark.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol “ODP.”

FORWARD LOOKING STATEMENTS

This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to, among other things, Office Depot, based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of Office Depot’s control. There can be no assurances that Office Depot will realize these expectations or that these beliefs will prove correct, and therefore investors and stockholders should not place undue reliance on such statements.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, risks related to the termination of the Staples acquisition, disruption in key business activities or any impact on Office Depot’s relationships with third parties as a result of the announcement of the termination of the Staples Merger Agreement; unanticipated changes in the markets for Office Depot’s business segments; the inability to realize expected benefits from the disposition of the European operations; fluctuations in currency exchange rates, unanticipated downturns in business relationships with customers; competitive pressures on Office Depot’s sales and pricing; increases in the cost of material, energy and other production costs, or unexpected costs that cannot be recouped in product pricing; the introduction of competing technology products and services; unexpected technical or marketing difficulties; unexpected claims, charges, litigation, dispute resolutions or settlement expenses; new laws and governmental regulations. The foregoing list of factors is not exhaustive. Investors and stockholders should carefully consider the foregoing factors and the other risks and uncertainties described in Office Depot’s Annual Reports on Form 10-K, as amended, and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Office Depot does not assume any obligation to update or revise any forward-looking statements.

Contact:
Richard Leland
561-438-3796
Investor Relations
Richard.Leland@officedepot.com

Karen Denning
630-438-7445
Media Relations
Karen.Denning@officedepot.com

Source: Office Depot, Inc.

Posted on January 14, 2017 by Retail News Editor

Office Depot, Inc. expands line of Pens and customizable Notebooks with the launch of TUL Brights

Expanded Line of Pens and Customizable Notebooks Brings Pop of Color to TUL’s Reliable Quality and Style

BOCA RATON, Fla., 2017-Jan-14 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ: ODP), a leading global provider of office products, services, and solutions, through its Office Depot and OfficeMax brands, announced today (January 11, 2017) the launch of TUL Brights, a colorful new expansion of the premium, exclusive TUL gel pens and customizable, TUL Note-taking System.

TUL Brights helps writers, note-takers and doodlers showcase their creativity with vibrant shades of colors to keep their ideas flowing. The new assortment of gel pens, available in purple, lime, sky blue, berry and 10 other vivid colors, are formulated with a smear-resistant gel ink and hand assembled and hand tested for premium quality.

Additionally, the TUL Note-taking System, which features a sleek design and a smooth leather cover, is now available in the limited-edition colors of pink, blue, teal and coral through June 2017. The customizable discbound system fits customers’ note-taking styles, scheduling and organizational needs with a wide range of personalized features, accessories and add-ons in colors that make a statement.

“TUL Brights adds a spark of imagination to the otherwise subtle, understated TUL pens and notebooks,” said Ron Lalla, executive vice president of merchandising for Office Depot, Inc. “With refined style and expertly crafted pieces, the new collection is designed to deliver a superior writing and note-taking experience – now with an eye-catching splash of color.”

TUL combines high-quality materials and advanced technologies to deliver top performing products for all tasks and note-takers. The clean and simple design fits a wide range of personal and professional settings, providing a pop of color with the right balance of style and performance.

The new TUL Brights line is now available at Office Depot and OfficeMax retail locations and online at officedepot.com/TUL.

About Office Depot, Inc.

Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school, or car.

The company has annual sales of approximately $14 billion, employs approximately 49,000 associates, and serves consumers and businesses in 59 countries with approximately 1,800 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization all delivered through a global network of wholly owned operations, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax, Grand & Toy, and Viking. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and HighMark.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol ODP. Additional press information can be found at: http://news.officedepot.com.

Contact:
APCO Worldwide on behalf of Office Depot, Inc.
Ken Sanderman
312-368-7548
ksanderman@apcoworldwide.com

Source: Office Depot, Inc.

Posted on November 11, 2016 by Retail News Editor

Office Depot, Inc. announces Black Friday and Cyber Monday deals in stores and online

BOCA RATON, Fla., 2016-Nov-11 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ: ODP), a leading global provider of office products, services, and solutions, through its Office Depot and OfficeMax brands, today (November 10, 2016 ) announced its Black Friday and Cyber Monday deals, available both in stores and at officedepot.com, to help shoppers find cool gear and holiday gifts at discounted prices.

“We’re offering many great deals on a variety of must-have gifts for the holidays – both online and in stores, so that shoppers can easily tackle all of their holiday gifting needs,” said Diane Nick, senior vice president of marketing for Office Depot, Inc.

Office Depot’s Black Friday and Cyber Monday deals will provide the best selection of holiday items for everyone on your gift list.

Black Friday deals available online 11/24 – 11/26 and in-store 11/25 – 11/26 include 1 :

HP 15.6” Laptop with Touch Screen and Intel Core i7 Processor for $449.99 (regular price $849.99) with 8GB memory, 1TB hard drive and up to 10HR battery life
Samsung 27” 1920×1080 Full HD LED Monitor for $129.99 (regular price $269.99)
HP 14” Laptop with Intel Inside for $169.99 (regular price $299.99) with 4GB memory and 32GB internal storage and includes 1 year of Microsoft Office 365 Personal
HP 23.8” FHD Touchscreen All-In-One Desktop with AMD A8 Processor for $399.99 (regular price $649.99) with 8GB memory and 1TB hard drive
Virtual Reality Headset for $9.99 (regular price $49.99)
Brenton Studio Mid-Back Chair for $39.99 (regular price $99.99)
Bluetooth speakers, headphones, and earbuds from $8.00

To view the insert with a complete list of the offers, visit officedepot.com/blackfridayad. While Office Depot and OfficeMax stores will be closed on Thanksgiving Day, so that shoppers and associates can spend quality time with family and friends, customers can get a head start on holiday deal shopping online at 12:01 a.m. ET Thanksgiving Day.

On Black Friday, stores will open at 6 a.m. and on Cyber Monday, deals will be valid online starting Nov. 27 at 12:01 a.m. ET until 11:59 p.m. ET on Nov. 28. And, don’t miss Cyber Week, Nov. 27 – Dec. 5.

Visit officedepot.com to find an Office Depot or OfficeMax location near you, and for more information on special holiday deals and savings.

About Office Depot, Inc.

Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school or car.

The company has annual sales of approximately $14 billion, employs approximately 49,000 associates, and serves consumers and businesses in 59 countries with approximately 1,800 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – all delivered through a global network of wholly owned operations, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax, Grand & Toy, and Viking. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and HighMark.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol ODP. Additional press information can be found at: http://news.officedepot.com.

1 Prices not valid in Alaska, Hawaii, Puerto Rico, and the Virgin Islands

Contact:
Julianne Embry
561-438-1451
julianne.embry@officedepot.com

Source: Office Depot, Inc.

Posted on August 4, 2016 by Retail News Editor

Office Depot, Inc. announces the appointment of Kristin Campbell to its Board of Directors

BOCA RATON, Fla., 2016-Aug-04 — /EPR Retail News/ — Office Depot, Inc. (“Office Depot”, or the “company”) (NASDAQ: ODP), a leading global provider of office products, services, and solutions, today announced that Kristin Campbell has been appointed to its Board of Directors. Additionally, Campbell will serve on the Audit Committee.

“We are excited to welcome Kristin to our board. Her executive leadership experience, including nearly two decades in the office products industry, brings valuable perspective to Office Depot as the company works to deliver long-term shareholder value,” said Roland Smith, chairman and CEO of Office Depot, Inc.

Since June 2011, Campbell has served as Executive Vice President and General Counsel for Hilton Worldwide Holdings Inc. where she is responsible for legal, compliance and government relations. Prior to joining Hilton Worldwide, Campbell spent 18 years at Staples, Inc. where she was most recently Senior Vice President, General Counsel and Corporate Secretary. Campbell has also practiced law at Boston-based firms Goodwin Proctor and Rackemann and Sawyer & Brewster.

About Office Depot, Inc.
Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school or car.

The company has annual sales of approximately $14 billion, employs approximately 49,000 associates, and serves consumers and businesses in 59 countries with approximately 1,800 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – all delivered through a global network of wholly owned operations, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax, Grand & Toy, and Viking. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and HighMark.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol “ODP”. Additional press information can be found at: http://news.officedepot.com .

Contact:

Investor Relations:
Richard Leland
561-438-3796
Richard.Leland@officedepot.com

Media Relations:
Karen Denning
630-438-7445
Karen.Denning@officedepot.com

Source: Office Depot, Inc.