Tag Archives: Office Depot

Posted on by

Office Depot unveils its market makeover of 14 stores in Austin, Texas

BOCA RATON, Fla., 2018-Feb-01 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading omnichannel provider of business services, products and technology, today (January 30, 2018) unveiled its market makeover of 14 stores in Austin, Texas, including a flagship location – “BizBox: Powered by Office Depot” – that integrate the company’s recently launched BizBox offering into its retail locations. The reimagined stores offer a first-of-its-kind suite of services for small business owners offered both online and in-store, along with flex workspaces in select stores. This is another step forward in the company’s strategic transformation from a traditional office products retailer to a broader business services platform.

BizBox is a one-stop-shop for entrepreneurs, offering end-to-end services to help small to mid-sized businesses start and grow their companies, including logo and website design, digital and social marketing, full-service copy and printing, finance and accounting services, payroll, HR, tech support, Centriq’s Asset Management software and more. The stores in the Austin market will offer face-to-face, one-on-one consultative support to help local businesses thrive.

A region ripe for growth, Austin serves as the first market for Office Depot’s innovative approach to a personalized, more omnichannel customer shopping experience. The company plans a phased approach to these makeovers as this is the next evolution of its retail transformation. The shift to a services-led retail shopping experience for customers will continue to unfold in its 1,400 stores across the country.

“Today is a key inflection point in the company’s transformation from a traditional office products retailer to a broader business services platform,” said Gerry Smith, chief executive officer for Office Depot, Inc. “Helping small and medium-sized business customers is core to our identity, but the reality is that our customers’ needs have changed. BizBox reflects our continued commitment to an omnichannel experience that addresses the challenges small businesses are facing today.”

The Austin retail stores offer digital services as well as a selection of traditional office products, and customers can expect a new look and feel in the upgraded locations, including:

  • Open Floor Plan with Dedicated BizBox Consulting Hubs – Entrepreneurs will have access to BizBox professionals and experts on-site to help identify services suited to their unique needs, streamlining operations and freeing up valuable time to focus on innovation and growth.
  • In-Store Networking – Open seating areas will encourage entrepreneurs to connect and discuss ideas and solutions alongside BizBox professionals.
  • Professional Tech Support in a Designated “Tech-Zone” – Professional tech support will be available to assist customers with everything from smartphone repairs to PC tune-ups, and more.

“As the ‘Silicon Hills’ of Texas, Austin is a strong market leader with five percent more small to medium-sized businesses than similar markets, boasting an estimated 2,400 new tech businesses in 2017 alone,” said Kevin Moffitt, senior vice president and chief retail officer for Office Depot, Inc. “Our research shows that Austin is the right market for us to test this new omnichannel approach, and customers are already impressed with how many ways we can partner with them and offer such a variety of services and solutions.”

This new business services platform builds upon Office Depot’s previously announced acquisition of CompuCom Systems, Inc. and strategic investment in Centriq Technology, Inc.

For more information and to sign up today, visit bizbox.com. To find the dedicated BizBox consultant near you in Greater Austin, visit officedepot.com/storelocator.

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®, BizBox, CompuCom®, Complete Office 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, Foray, Ativa and Realspace are trademarks of The Office Club, Inc. OfficeMax, TUL, Brenton Studio, WorkPro and Highmark are trademarks of OMX, Inc. CompuCom is a trademark of CompuCom Systems, Inc. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. ©2018 Office Depot, Inc. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.

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

Danny Jovic
561-438-1594
danny.jovic@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot Receives 100 percent on Human Rights Campaign Foundation’s Scorecard on LGBTQ Workplace Equality

BOCA RATON, Fla., 2017-Dec-01 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading omnichannel provider of business services, products and technology today (November 30, 2017) announced that it received a perfect 100 percent score on the Human Rights Campaign Foundation’s 2018 Corporate Equality Index (CEI). The CEI is a national benchmarking survey and report on corporate policies and practices related to lesbian, gay, bisexual, transgender and queer (LGBTQ) workplace equality.

“We are proud to be recognized by the Human Rights Campaign Foundation as one of the Best Places to Work for LGBT Equality for the seventh consecutive year,” said Zoë Maloney, senior vice president of human resources for Office Depot, Inc. “Office Depot is committed to an inclusive work environment that values and respects the talents and contributions of every associate. We recruit a workforce that reflects the diversity of the communities we serve, and offer equal opportunities for advancement, encouraging all employees to develop to their full potential.”

The 2018 CEI rated 947 businesses in the report, which evaluates LGBTQ-related policies and practices including non-discrimination workplace protections, domestic partner benefits, transgender-inclusive health care benefits, competency programs and public engagement with the LGBTQ community. Office Depot’s efforts in satisfying all of the CEI’s criteria results in a 100 percent ranking and the designation as a Best Place to Work for LGBTQ Equality.

The Human Rights Campaign Foundation is the educational arm of America’s largest civil rights organization working to achieve equality for lesbian, gay, bisexual transgender and queer people. HRC envisions a world where LGBTQ people are embraced as full members of society at home, at work and in every community.

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®, BizBox, CompuCom®, Complete Office 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, Foray, Ativa and Realspace are trademarks of The Office Club, Inc. OfficeMax, TUL, Brenton Studio, WorkPro and Highmark are trademarks of OMX, Inc. CompuCom is a trademark of CompuCom Systems, Inc. and Complete Office is a trademark of Complete Office Solutions, LLC. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. ©2017 Office Depot, Inc. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.

Contact:
Rebecca Rakitin
561-438-1450
Rebecca.Rakitin@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot’s Elf Yourself® is back and better than ever

BOCA RATON, Fla., 2017-Nov-22 — /EPR Retail News/ — The jolly elf is a beloved icon of the holiday season. And this year, one of the most popular mainstays of holiday elf culture, Office Depot’s (NASDAQ:ODP) Elf Yourself® is back and better than ever with new augmented reality (AR) features¹ that will allow users to create holiday greetings with an even greater level of creativity and personalization.

“Over the past decade, the ‘Elf Yourself’ experience has brought over a billion elves into the world, bringing holiday cheer and excitement to all those who have ‘elfed’ themselves or been ‘elfed’ by someone else,” said Natalie Malaszenko, resident elf expert and vice president of digital and B2B marketing for Office Depot, Inc. “Our passion has always been rooted in finding new ways for people to unleash their inner elf, and this year we are able to kick this up to a whole new level due to our new AR capabilities.”

The AR features are easy to use – with a simple tap, you can have Santa’s little helpers rocking out on the screen of your phone as your friends and family dance alongside them. And this year you can turn your favorite frame into a custom holiday card, which can be easily ordered from any Office Depot or OfficeMax print center in store, online or through its mobile app. “You can really get creative – now that you can use any background you capture on your phone, the possibilities are endless,” said Malaszenko. “We can’t wait to see what #ElfYourself creations people will come up with this holiday season.”

Beyond the new AR features, you can expect to see all your favorite dances back this year joined by three fresh scenes. Mischievous elves are sneaking out of Santa’s workshop for some fresh air and sightseeing – shimmying under the Northern Lights in a magical winter wonderland. Back at Santa’s Workshop, elves are taking care of business, prepping for the big day with a little pep in their step.

For those gearing up for Hanukkah, Office Depot is teaming up with the Mensch on a Bench for another great Hanukkah dance. The Jewish a cappella group Six13 will be singing sweet tunes as Moshe the Mensch gets down with a street style dance-off.

“The Mensch on a Bench is thrilled to team up with Elf Yourself for the third year in a row to develop a fun new tradition for Jewish families,” said Neal Hoffman, creator of Mensch on a Bench. “Turning yourself into a mensch and dancing to Dreidel Dreidel Dreidel is guaranteed to bring smiles to everyone’s faces – just in time to celebrate Hanukkah!”

Since the inception of Elf Yourself® in 2006, 1.5 billion elves have been created and over 564 million sessions globally. The updated app is available to download today at elfyourself.com or through your mobile app store. To create videos with Elf Yourself®, users simply upload up to five photos from either their camera roll, Facebook or taken on the app, select a dance theme, and the app generates a custom Elf Yourself® video to share with friends and family via email and social media platforms, as well as embed into websites and blogs.

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®, BizBox, CompuCom®, Complete Office 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, Foray, Ativa and Realspace are trademarks of The Office Club, Inc. OfficeMax, TUL, Brenton Studio, WorkPro and Highmark are trademarks of OMX, Inc. CompuCom is a trademark of CompuCom Systems, Inc. and Complete Office is a trademark of Complete Office Solutions, LLC. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. ©2017 Office Depot, Inc. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.

1 On AR enabled devices. Compatible with iOs 6S or higher and select Android devices

Source: Office Depot, Inc.

Posted on by

Office Depot completes the acquisition of CompuCom Systems, Inc. and announces Q3 2017 results

  • Acquisition Combines World-Class IT Service Capabilities, Extensive Customer Base and Nationwide Footprint to Create a Powerful Omnichannel Growth Opportunity
  • Strengthens Core Business Through Immediate Cross-Selling Opportunities and Ability to Become a One-Stop Destination for Business Products and Services
  • Q3 2017 GAAP EPS from Continuing Operations of $0.19
  • Strong 2017 YTD Operating Cash Flow (1) in Excess of $400 Million
  • Plans to Host Investor Day in Early 2018 to Further Highlight New Strategic Direction

BOCA RATON, Fla., 2017-Nov-11 — /EPR Retail News/ — Office Depot, Inc. (“Office Depot,” or the “company”) (NASDAQ: ODP), a leading provider of office supplies, business products and services delivered through an omnichannel platform, today (November 9, 2017) announced the completion of the CompuCom Systems, Inc. (“CompuCom”) acquisition and results for the third quarter ended September 30, 2017, as well as highlights of the company’s new strategic direction. Office Depot will provide further detail on the company’s performance and strategy to become a services-driven company during its earnings conference call.

“I’m pleased that we were able to deliver strong cash flow in the third quarter as well as operating results that were in line with our updated outlook,” said Gerry Smith, chief executive officer of Office Depot. “Today also marks an important milestone as we have taken several important steps on a longer-term journey to transform Office Depot from a traditional provider of primarily office products into a broader product and business services platform. This transformation will leverage our stores, online presence and sales force to create a unique omnichannel platform that offers services, products and solutions focused on businesses of all sizes while generating recurring revenue growth.”

“It is imperative we start this journey now. The first step in this transformation was the strategic acquisition of CompuCom, which adds award-winning, enterprise managed workplace services capabilities to our portfolio. This acquisition was quickly followed by the launch earlier this week of BizBox, our new business services platform focused on small and medium-sized business owners. These are key building blocks to deepening our customer relationships and realizing our vision of becoming a services-driven company. Since I joined the company earlier this year, we have been creating the strategy and starting to make the necessary investments in people and capabilities to execute our plan and unlock the value of the new Office Depot.”

Consolidated Results

Reported (GAAP) Results

Total reported sales for the third quarter of 2017 were $2.6 billion compared to $2.8 billion in the third quarter of 2016, a decrease of 8%. Third quarter sales include the negative impact on both the Retail and Business Solutions Divisions from hurricanes Harvey, Irma and Maria, which disrupted operations in Puerto Rico and the southeastern United States where a heavy concentration of customers are located.

In the third quarter of 2017, Office Depot reported operating income of $108 million, net income from continuing operations of $98 million, or $0.19 per diluted share and total company net income of $92 million, or $0.17 per diluted share. Both net income from continuing operations and total company net income include a net tax credit of approximately $37 million associated with the reduction of the U.S. tax valuation allowance.

In the third quarter of 2016, the company reported operating income of $117 million, net income from continuing operations of $330 million, or $0.61 per diluted share and total company net income of $193 million, or $0.35 per diluted share. Both net income from continuing operations and total company net income include a net tax credit of approximately $240 million associated with the reduction of the U.S. tax valuation allowance.

For the year-to-date 2017 period, Office Depot reported operating income of $282 million compared to an operating income of $473 million for year-to-date 2016. Net income from continuing operations for year-to-date 2017 was $195 million, or $0.37 per diluted share, compared to net income from continuing operations of $624 million, or $1.13 per diluted share, for year-to-date 2016. The year-to-date 2016 results benefited from $250 million of operating income related to the Staples termination fee received in the second quarter of 2016 in addition to the benefit from the tax valuation allowance reduction stated above.

Adjusted (non-GAAP) Results (2)

Adjusted operating income for the third quarter of 2017 was $131 million compared to an adjusted operating income of $158 million in the third quarter of 2016. Adjusted net income from continuing operations for the third quarter of 2017 was $74 million, or $0.14 per diluted share, compared to adjusted net income from continuing operations of $89 million, or $0.16 per diluted share, in the third quarter of 2016.

  • Adjusted operating income for the third quarter of 2017 excludes charges and credits totaling $23 million, which were comprised of $15 million in restructuring charges, $6 million in OfficeMax merger-related expenses and $2 million in executive transition and acquisition-related expenses.
  • Adjusted net income from continuing operations in the third quarter of 2017 excludes the after-tax impact of these items.

For the year-to-date 2017 period, adjusted operating income was $351 million compared to an adjusted operating income of $360 million for year-to-date 2016. Adjusted net income from continuing operations for year-to-date 2017 was $196 million, or $0.37 per diluted share, compared to adjusted net income from continuing operations of $192 million, or $0.35 per diluted share, for year-to-date 2016.

Sale of International Businesses

As previously announced on July 28, 2017, the company completed the sale of its business in mainland China. The company’s sale of the remaining international operations in Australia and New Zealand remain subject to the buyer obtaining the necessary regulatory approvals.

The company’s retained sourcing and trading operations in Asia contributed $3 million in sales for the third quarter of 2017 and an operating loss of $1 million. These results are reported as an “Other” segment outside of the primary two operating segments.

Corporate Results

Corporate includes support staff services and certain other expenses that are not allocated to the company’s operating divisions. Unallocated expenses decreased to $22 million in the third quarter of 2017 compared to $29 million in the third quarter of 2016 primarily due to cost savings associated with the Comprehensive Business Review.

Balance Sheet and Cash Flow

As of September 30, 2017, 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 $282 million, excluding $781 million of non-recourse debt related to the credit-enhanced timber installment notes.

For the third quarter of 2017, cash provided by operating activities of continuing operations was $293 million and included the impact of $16 million in restructuring costs and $12 million in OfficeMax merger–related costs. Capital expenditures were $37 million in the third quarter of 2017, $3 million of which were related to the merger integration. Accordingly, free cash flow(3) of continuing operations was $256 million in the third quarter of 2017.

Year-to-date 2017 free cash flow(3) of continuing operations was $316 million, which comprised of $408 million in cash provided by operating activities of continuing operations less $92 million in capital expenditures.

During the third quarter, the company paid a quarterly cash dividend of $0.025 per share on September 15, 2017 for an aggregate of approximately $13 million.

Office Depot repurchased approximately 4 million shares at a total cost of $17 million in the third quarter of 2017. Since the share repurchase program began in May 2016, Office Depot has repurchased approximately 45 million shares, at a total cost of $166 million, for a weighted average price of $3.71 per share. At the end of the third quarter, $84 million remained available for repurchase under the current $250 million buyback authorization.

New Strategic Direction to Unlock Growth Opportunities

Following the appointment of Gerry Smith as chief executive officer, Office Depot began a strategic review with a focus on growing revenue and evaluating profitable growth opportunities. The result is a new strategic direction focused on better serving customers through the integration of business services and products via an omnichannel platform that leverages the company’s core competencies and assets. With millions of business customers and a unique last-mile advantage, the company believes introducing compelling service offerings will create a growing stream of recurring subscription-based revenue. The new strategic direction contains three areas of focus: Transform, Disrupt and Strengthen. A number of initiatives are already underway across the business.

Transform our Business

The first major step in the company’s transformation to create a business services platform was the acquisition of CompuCom, a market-leading provider of award-winning technology services, products and solutions. The acquisition combines CompuCom’s broad set of managed technology services and 6,000 certified technicians with Office Depot’s extensive customer base and last-mile advantage. Together, this combination will create a unique nationwide omnichannel offering in office supplies and end-to-end technology solutions focused on business customers, with the scale and credibility to stand apart from the competition.

The combined company expects to be well positioned to capture market share in the $25 billion, highly fragmented North American managed workplace service market by providing a comprehensive network of enterprise-level tech services and products to new and existing customers of all sizes. With minimal customer overlap, both companies’ sales teams can immediately begin cross-selling a full suite of products and services, with an incentive structure focused on driving services revenue. By creating a broader relationship with customers, Office Depot can become a more important vendor and the ideal business partner to provide customers the solutions they need.

The company has also identified a compelling opportunity to bring technology services to the historically underserved small and midsize business (SMB) market. Office Depot currently has access to nearly six million SMB customers within three miles of its approximately 1,400 stores. CompuCom’s existing SMB offering, Tech-ZoneTM, will be placed within Office Depot’s nationwide retail footprint to provide immediate scale and drive increased foot traffic for improved per-store profitability. With this strategy, Office Depot will be the first to offer customers technology solutions with national scale and local support across an omnichannel platform.

Disrupt for our Future

Beyond the CompuCom acquisition, Office Depot also has identified several additional innovative opportunities to leverage its key assets and disrupt traditional retail thinking. Earlier this week, the company announced the launch of BizBox, a new business services platform. BizBox provides start-ups and small business leaders access to the core services needed to start and grow their businesses through a convenient, monthly subscription. BizBox will simplify business decisions and operations for all small and medium-sized businesses.

BizBox core service offerings include website hosting and design, Centriq asset management, digital and social marketing, financing and accounting, CRM and HR/payroll support, in addition to technical services and support available from CompuCom. BizBox will be initially offered through an integrated online platform, which will be enhanced with new features and services based on customer feedback and demand, including introduction into retail stores.

Strengthen our Core

While the transformation toward a services-driven company is part of a multi-year strategy, Office Depot has a number of initiatives underway to strengthen its core business operations. The company has recently acquired several mid-market regional office products and janitorial supply companies in order to improve access to customers in select geographic markets within the United States and augment its presence in the cleaning and breakroom category. These acquisitions also add new selling models, supply chain capabilities and purchasing scale that the company plans to leverage across its existing operations.

Office Depot is also making investments in people and capabilities with a focus on improving customer experience and demand generation across sales channels. The company has recently added several senior leaders in marketing and merchandising with proven experience in services, demand generation and data analytics. Office Depot is also upgrading supply chain capabilities to drive both cost and performance improvements and generate additional working capital opportunities.

“Our new strategy is focused on building diverse and stable recurring service offerings that leverage our omnichannel platform, but most importantly it was created by listening to our customers and the solutions they need in order to run their businesses,” commented Gerry Smith. “We are moving quickly to make the necessary investments to successfully deliver on the strategy and believe it can ultimately unlock significant value to our shareholders as we position Office Depot for the future.”

Outlook (4)

Office Depot continues to expect total company sales in 2017 to be lower than 2016, primarily due to the impact of planned store closures, prior year contract customer losses, continued challenging market conditions, hurricane impacts and returning to a 52-week fiscal year. However, the company expects the rate of sales decline to improve in the fourth quarter of 2017 on a comparable 13-week basis based on implementation of new customer wins, customer retention efforts and growth from strategic business initiatives.

The company expects to be substantially complete with the OfficeMax integration and realize the majority of the synergy benefits by the end of 2017. Merger integration expenses are estimated to total approximately $40 million in 2017 and approximately $15 million in merger-related capital expenditures.

Office Depot’s cost saving initiatives that were part of the Comprehensive Business Review are expected to deliver over $250 million in annual benefits by the end of 2018, with about two-thirds of the total benefits anticipated to be realized by the end of 2017. The company continues to estimate it will incur approximately $125 million in costs to implement the Comprehensive Business Review cost saving programs, of which $90 million has been incurred since inception through the third quarter of 2017. Furthermore, the company expects to realize an additional $40 million of expected synergies from the CompuCom acquisition over the next two years.

As recently announced on October 3, 2017, Office Depot now expects adjusted operating income to be between $400 million and $425 million in fiscal 2017. The reduction reflects lower sales and traffic during this year’s Back-to-School season, higher supply chain costs related to planned consolidations, hurricane impacts and continued investments related to the company’s new direction to become a services-driven company.

Capital expenditures in 2017 are now expected to be approximately $125 million including investments to support the company’s critical priorities. Depreciation and amortization is still expected to be approximately $150 million in 2017.

Office Depot continues to anticipate free cash flow(3) from continuing operations to be more than $300 million in 2017.

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

On November 8, 2017, Office Depot completed the acquisition of CompuCom for approximately $940 million. The transaction was funded with a new $750 million 5-year senior secured term loan, the issuance of approximately 44 million shares of the company’s common stock and approximately $55 million of cash on hand. Office Depot expects to maintain substantial financial flexibility with low balance sheet leverage, strong liquidity, and positive free cash flow available for debt repayment, capital returns to shareholders and growth initiatives.

Due to the recent timing of the CompuCom acquisition, Office Depot has not yet determined the potential purchase accounting and other impacts to the consolidated financial statements or reportable segments for 2017 or future periods. In addition, the company is currently developing estimates of the necessary investments required to support the new strategic direction to transition to a services-driven business model over the coming years. As a result of these uncertainties, Office Depot will not be providing 2018 guidance at this time. However, the company does expect 2018 sales trends to continue to be impacted by store closures, lower store traffic, and ongoing competitive pressures, with an associated flow-through impact to profitability.

Office Depot plans to host an Investor Day in early 2018 to further highlight the company’s new strategic direction, 2018 guidance, operating initiatives and leadership team. Additional details on date and location will be provided closer to the event.

(1) Operating cash flow refers to cash flows from operating activities of continuing operations.

(2) Adjusted results represent non-GAAP measures and exclude charges or credits not indicative of core operations and the tax effect of these items, which may include but not be limited to merger integration, restructuring, acquisition, asset impairments and executive transition costs. Reconciliations from GAAP to non-GAAP financial measures can be found in this release as well as on the Investor Relations website at investor.officedepot.com.

(3) Free cash flow is defined as cash flows from operating activities of continuing operations less capital expenditures.

(4) The company’s outlook for 2017 included in this release, includes expected adjusted operating income, a non-GAAP number, which excludes charges or credits not indicative of core operations, which may include but not be limited to merger integration expenses, restructuring charges, executive transition costs, 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 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.

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,” “outlook,” “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, the risk that Office Depot is unable to transform the business into a service-driven company or that such a strategy will result in the benefits anticipated, the risk that Office Depot may not be able to realize the anticipated benefits of the CompuCom transaction due to unforeseen liabilities, future capital expenditures, expenses, indebtedness and the unanticipated loss of key customers or the inability to achieve expected revenues, synergies, cost savings or financial performance, uncertainty of the expected financial performance of Office Depot following the completion of the CompuCom transaction, impact of weather events on Office Depot’s business, impacts and risks related to the termination of the attempted 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 and other international 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, as amended, and Quarterly Reports on Form 10-Q filed with the U.S. 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 

Julianne Embry
561-438-1451
Media Relations
Julianne.Embry@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot announces its Black Friday deals

BOCA RATON, Fla., 2017-Nov-11 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office supplies, business products and services delivered through an omnichannel platform, today (November 8, 2017) announced its Black Friday deals, available both in stores and at officedepot.com, for shoppers to find items to gift their business and treat themselves at discounted prices.

“This is the season to not only gift your business, but to treat yourself. We’re offering incredible deals both online and in stores, so that shoppers can easily tackle all of their holiday gifting needs,” said Marko Ibrahim, senior vice president of North America retail for Office Depot, Inc.

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

Black Friday deals available online 11/23 – 11/25 and in-store 11/24 – 11/25 include 1 :

  • HP Touch Screen 15.6″ Laptop with Intel 8th Generation Core i7 Processor, 8GB RAM and 1 TB Hard Drive for $449.99 (reg. $849)
  • HP 15.6″ Laptop with Intel 8th Generation Core i5 Processor, 8GB RAM and 1 TB Hard Drive for $349.99 (reg. $599.99)
  • HP 14″ Laptop with Intel Inside & Microsoft Office pre-installed for $167.99 (reg. $299.99)
  • Dell Touch Screen 24″ All-in-One Desktop PC – Black or White2 option for $419.99 (reg. $649.99)
  • Samsung 32″ HD Monitor for $169.99 (reg. $299.99)
  • Dell™ Gaming Laptop with Intel Core i5 Processor, 8GB RAM, 1 TB and NVIDIA GTX1050 Graphics for $629.99 (reg. $899.99)
  • Dell™ Gaming Desktop with AMD Ryzen 5 Processor, 8GB RAM, 1 TB and AMD Radeon™ RX 570 for $649.99 (reg. $899.99)
  • Online only: HP Touch Screen 15.6″ Laptop with Intel 8th Generation Core i7 Processor, 8GB RAM and 256GB Solid State Drive for $529.99 (reg. $929.99)
  • Online only: HP Touch Screen 15.6″ Laptop with Intel 8th Generation Core i7 Processor, 12GB RAM and 1 TB Hard Drive for $499.99 (reg. $899.99)
  • Doorbuster: 7:45 a.m. to noon on 11/24–Free McAfee Live Safe Card 3
  • New PC Set Up, 1 Year of McAfee and 2 years of Square Trade Coverage (Total Protection) for $98.98 (reg. $149.99-$249)4
  • Realspace® Magellan L-Desk with Hutch, (Best-selling desk in four finishes) for $207.98 (reg. $519.98). Plus, Entire Realspace® Magellan collection on sale (desks, bookcases, and files)
  • Realspace® Magellan Managers Desk, (three finishes) for $139.99 (reg. $279.99)
  • Serta® Hensley Big & Tall Chair for $239.99 (reg. $399.99). Plus, all Serta® Chairs on Sale
  • WorkPro® Quantum Ergonomic Mesh Mid Back Chair for $219.99 (reg. $369.99). Plus, all WorkPro® Chairs on Sale
  • Online only: Canon EOS Rebel T6 18.0-Megapixel Digital SLR Camera Kit With 18-55 mm IS II and 75-300 mm III Lenses for $449.99 (reg. $749.99)
  • Google Home for $79 (reg. $129)
  • Google WiFi for $99 (reg. $129)
  • Google WiFi 3pk for $249 (reg. $299)
  • Virtual Reality Headset with Bluetooth controller and retractable wireless earbuds for $11 (reg. $29.99)

To view the Black Friday ad with a complete list of the offers, visit officedepot.com/blackfriday.

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 and offers are valid until 11:59 p.m. ET on Saturday, Nov. 25. Stores will open at 7:45 a.m. on Friday, Nov. 24 and offers are valid through Saturday, Nov. 25.

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 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.

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

2 White Dell All-in-One available only online

3 Available only in stores. Minimum 25 per store. Limit 1 per customer. While supplies last. No rainchecks.

4 Available only in stores. Virus-Free Guarantee: If your protected devices become infected within one (1) year from date of software purchase, we will remove the virus, malware or spyware at no additional cost. Device must be virus free at time of software installation. See associate for details. 2 Year Protection: Limitations and exclusions apply. See officedepot.com/protection for terms and conditions of complete coverage details. Term begins on the date of purchase but does not replace the manufacturer’s coverage.

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

Sarah England
561-438-1448
sarah.england@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot launches new business services platform BizBox

BOCA RATON, Fla., 2017-Nov-08 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading omnichannel provider of business services, products and technology today (November 7, 2017) announced the launch of BizBox (MyBizBox.com). This new business services platform will provide start-ups and small business leaders access to the core services needed to start and grow their businesses through a convenient subscription with monthly services starting at $99. BizBox will simplify business decisions and operations for all small and medium-size businesses.

The BizBox platform builds upon Office Depot’s previously announced acquisition of CompuCom Systems, Inc. and is an important part of the company’s strategic transformation from a traditional office products retailer to a broader business services platform.

“Office Depot has been a partner and resource for small business owners since 1986. We have the ability to reach nine million small business customers through our touch points around the country. Uniting this deep expertise with the world-class IT services of CompuCom will help solve customer problems in a way few others are doing right now,” said Gerry Smith, chief executive officer for Office Depot, Inc. “The BizBox platform is an essential element of our commitment to innovation. We are energized to expand a business ecosystem of services, products and technology that builds on our legacy of helping small business owners succeed in a modern economy.”

Whether navigating the waters of payroll and HR or embarking on a first-time digital campaign, BizBox members will have access to experts who help identify services suited to their unique needs, better streamlining operations and freeing up valuable time to focus on the real business of innovation and growth. End-to-end services include:

  • Accounting
  • Email Marketing and CRM
  • Payroll and HR
  • Search Marketing
  • Asset Management
  • Social Marketing
  • Legal Services
  • Logo Design
  • Website Creation and Hosting
  • Technical Services (available soon)

A recent Office Depot study of 1,500 small business and start-up owners shows that although digital services such as e-mail marketing, website creation and social marketing are seen as the top services needed to grow a business, many respondents aren’t using these services. Nearly one-third of established businesses in the survey do not have a website, and over half do not do any kind of social marketing at all.

“It’s not surprising small business owners and entrepreneurs aren’t always using the very services that would best help them drive growth. We know from talking to them every day they feel pulled in a million directions, and often don’t know where to turn for support for all their needs,” said Kevin Moffitt, chief digital officer for Office Depot, Inc. “BizBox is a platform designed to help reduce some of the stress and barriers that prevent entrepreneurs from turning their ideas into reality, and is the first service of its kind backed by the business expertise of a multi-billion-dollar enterprise.”

The BizBox platform will be enhanced with new features and services based on customer feedback and demand, including introduction into retail stores.

For more information and to sign-up today, please visit MyBizBox.com

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.

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

Sarah England
561-438-1448
sarah.england@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot recognizes companies for their Commitment to Greener Purchasing

Boca Raton, 2017-Oct-17 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office supplies, business products and services delivered through an omnichannel platform, today (October 16, 2017) announced that it is recognizing forward-thinking companies from across the country for their leadership in greener purchasing.

“One of the unique ways Office Depot promotes sustainability is by celebrating our customers who buy greener,” said Steve Calkins, president, business solutions division for Office Depot. “By recognizing these organizations for achieving their sustainability goals, they’ll continue to make greener purchasing decisions in the future and we believe that other organizations will follow.”

Leadership in Greener Purchasing award winners include private sector organizations American Electric Power (Columbus, OH), Best Buy Co., Inc. (Richfield, MN), DaVita (Denver, CO), Oracle (Redwood City, CA), Rush Enterprises, Inc. (New Braunfels, TX), Marsh & McLennan Companies (New York City), and Ogletree Deakins; and public sector customers City of Chicago, Chicago Public Schools, Los Angeles City College, University of California, University of Notre Dame, University of Pennsylvania and Washington State Department of Licensing.

In addition, University of Pennsylvania (Penn) received the Office Depot Special Recognition for Greener Spend Analysis Award. This award recognizes the exemplary efforts specific to analyzing green spend data. Office Depot and University of Pennsylvania also worked together on the ‘Power Down Challenge’ energy savings initiative, which allowed Office Depot to identify top technology items that could both improve energy efficiency and lower the environmental footprint for the campus community.

“Penn Purchasing Services works with its suppliers and the Penn community to actively identify and promote products and processes that make a positive sustainability impact,” said Mark Mills, Penn’s director of purchasing. “We are pleased to work with a company such as Office Depot, which gives us access to the kinds of detailed data we need to make intelligent and practical decisions related to sustainability. Office Depot has been instrumental in helping Penn green its office supplies spend, and we look forward to continued collaboration moving forward.”

Award winners were selected from among Office Depot’s largest customers based on their expenditure on products with eco-attributes such as recycled content, energy-efficiency, non-toxicity, etc., and/or ecolabels such as FSC®, EPEAT, GREENGUARD Certification, GreenSeal® and EcoLogo. Customer purchases with the highest level of meaningful eco-attributes and ecolabels were given extra weight in the selection process.

Office Depot uses a wide range of approaches to increase customer uptake of greener products, including The Green Book® digital catalog to simplify the green shopping experience for contract customers, a GreenerOffice™ web store with over 14,000 products with environmental attributes, and regular promotions on greener products. Last year, sales of greener products accounted for 30 percent of the company’s total product assortment. Office Depot also has one of the industry’s leading sets of Green Solutions and reporting tools, many of which were developed in collaboration with specific customers.

For more information about Office Depot’s sustainability initiatives, please see Office Depot’s Corporate Sustainability Report.

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.

CONTACT:

Rebecca Rakitin
Office Depot, Inc.
561-438-1450
Rebecca.Rakitin@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot to acquire IT services, products and solutions provider CompuCom Systems, Inc.

  • Adding Market-Leading Provider of World-Class IT Services with Approximately $1.1 Billion in Sales to Create a Powerful Omnichannel Tech Services Platform
  • Combines CompuCom’s Broad Set of Managed Technology Services with Access to Office Depot’s Extensive Customer Base and Last-Mile Advantage to Generate Substantial Growth Opportunities
  • Expects Over $40 Million in Estimated Annual Cost Synergies within Two Years; Acquisition to be Accretive in Year One
  • Attractive Free Cash Flow and Significant Financial Flexibility to Implement Office Depot’s New Strategy to Grow Recurring Business Services Revenue

BOCA RATON, Fla., 2017-Oct-06 — /EPR Retail News/ — Office Depot, Inc. (“Office Depot” or the “company”) (NASDAQ:ODP) today (October 3, 2017) announced it is pivoting the company from a traditional office products retailer to a broader business services and technology products platform. As the first step in this new strategic direction, the company has entered into a definitive agreement to acquire CompuCom Systems, Inc. (“CompuCom”), a market-leading provider of award-winning IT services, products and solutions that enable the digital workplace for enterprise, small and midsize businesses. The company also provided a preliminary estimate of third-quarter financial results and a lowered outlook for Office Depot’s stand-alone business for 2017.

“Technology is the office supply of the future,” said Gerry Smith, chief executive officer of Office Depot. “Today marks a significant milestone as we move to provide a unique business services platform for our current and future customers. Acquiring CompuCom is the first step in this new strategic direction. The combination of CompuCom’s enterprise IT services with our millions of customers and approximately 1,400 distribution points gives us the credibility and scale to build a sustainable platform and stand apart from the competition. The company will create value for shareholders from a diversified revenue base with a clear opportunity to grow higher value services and business-to-business revenues.”

Under the terms of the agreement, Office Depot will acquire CompuCom from Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm, for a total consideration of approximately $1 billion, which includes the repayment of CompuCom debt and issuance of new Office Depot shares. Following the transaction, THL will hold an equity position in Office Depot of approximately 8% of total shares outstanding.

Founded in 1987, CompuCom provides highly-rated managed IT services to businesses with over 5.1 million unique end users. CompuCom’s team of approximately 6,000 licensed technicians is the largest employee field technician workforce in North America, providing remote and onsite technology support. CompuCom procures, installs and manages the lifecycle of hardware and software for businesses, and offers IT support services including remote help desk, data centers and on-site IT professionals. CompuCom was positioned in the Leaders quadrant of Gartner’s® most recently released Magic Quadrant® for Managed Workplace Services, North America. CompuCom has established long-term relationships with hundreds of blue chip customers, including six of the top 10 Fortune 500 companies, and many small- and medium-sized businesses, including local franchises of national brands.

Compelling Market Opportunity

The combination represents a unique opportunity to bring world-class IT support services to all of Office Depot’s customers, particularly underserved small- and medium-sized businesses (SMBs).

  • $25 Billion Opportunity: Together, Office Depot and CompuCom will be positioned to capture market share in a $25 billion, highly fragmented market as the first company to provide a nationwide, comprehensive network of enterprise-level tech services and products.
  • Targeted Small and Medium Business Model: The combined company will have an unmatched position in serving SMB customers by providing end-to-end award-winning IT services through its approximately 6,000 salaried, certified technicians nationwide and top-tier cloud and data centers. This model will fit within Office Depot’s omnichannel platform, particularly its last-mile footprint that offers access to nearly six million SMBs within three miles of its approximately 1,400 stores.
  • Expect Increased Traffic and Services Revenue Improving Store Profitability: CompuCom’s established SMB offering, Tech-Zone, will be placed within Office Depot’s nationwide retail footprint, providing immediate scale and driving traffic into Office Depot stores. Added services revenue and increased foot traffic will improve per-store profitability.
  • Immediate Cross-Selling Opportunity with Minimal Overlap: Both Office Depot and CompuCom sales teams can capitalize on minimal customer overlap to quickly begin cross-selling a full suite of products and services, with an incentive structure focused on driving services revenue.
  • Continued Focus on Core Enterprise Business: CompuCom will be the technology services platform for Office Depot, expanding CompuCom’s reach and enabling further efficiency initiatives in its core enterprise business focused on automation and innovation.
  • Enhanced Management Expertise: Since the arrival of Gerry Smith, who brings in-depth expertise in the technology sector, the company has added several senior leaders, including chief marketing officer, Jerri DeVard, chief legal officer, N. David Bleisch and chief merchant and services officer, Janet Schijns, who collectively bring proven experience in services and demand generation, in order to unlock the full value of this combination.

“Together with Office Depot we can create a distinctive offering for our enterprise and SMB customers and accelerate our growth,” said Dan Stone, chief executive officer of CompuCom. “The workplace has truly moved to a digital environment with the average worker having over four connected devices. Office Depot’s established brand and large national footprint will help to drive the expansion of our offerings to more markets and build on our client-focused success to welcome new customers seeking high-quality technology services and solutions.”

“We strongly believe in the compelling opportunity to create value for shareholders in this combination and look forward to supporting Office Depot in this next chapter,” said Soren Oberg, managing director at Thomas H. Lee Partners. “Office Depot is an ideal partner for CompuCom, as their strengths are highly complementary and, together, they will have a strong foothold in the fragmented managed services market and greater opportunities for growth.”

Financial Impact

Stephen Hare, chief financial officer of Office Depot added: “With this acquisition, we immediately add CompuCom’s significant, recurring revenue stream and proven service offerings to our platform, allowing us to quickly build scale. Together we will build deeper relationships with our business customers and provide the solutions they need, while generating long-term, sustainable value for our shareholders.”

The acquisition of CompuCom is expected to accelerate Office Depot’s ability to enhance shareholder value and pursue topline growth. While Office Depot intends to provide greater detail surrounding the long-term financial impact of the transaction during its next earnings call in November, Office Depot expects to:

  • Add approximately $1.1 billion of revenue
  • Deliver expected cost synergies of over $40 million within two years
  • Realize substantial revenue synergies over time as a result of the opportunity for CompuCom to access Office Depot’s multi-channel customer base

Office Depot has a demonstrated track-record of success in integrating acquisitions and delivering synergies, including over $750 million in cost savings from the OfficeMax acquisition alone.

Office Depot will finance the acquisition with new debt and the issuance of approximately 45 million shares of its common stock to THL. Office Depot expects to refinance CompuCom’s existing debt with a new term loan of approximately $750 million. Following the close of the transaction, Office Depot expects to maintain substantial financial flexibility with low balance sheet leverage, strong liquidity, and positive free cash flow available for debt repayment, capital returns to shareholders and growth initiatives.

Office Depot remains committed to returning capital to shareholders including its current cash dividend plan. The existing share buyback plan authorized by the Board of Directors remains in place.

Preliminary Q3 Results and Full-Year Outlook (3)(6)

Office Depot expects to report its third-quarter 2017 financial results in November. Based on a preliminary assessment, the company expects to report(5):

  • Total reported sales decline between 7-8% for the quarter including store closures.
    • Between 5-6% decline in comparable retail store sales.
    • Between 5-6% decline in constant currency sales within the BSD.
  • Adjusted operating income(2) between $125-$135 million for the quarter.
  • Free cash flow(4) from continuing operations of approximately $200 million for the quarter.
  • Approximately $750 million in cash and cash equivalents and approximately $1 billion available under the Amended and Restated Credit Agreement, for total available liquidity of approximately $1.75 billion. Total debt of approximately $285 million excluding non-recourse debt.

Office Depot expects to provide an updated long-term outlook, including the impact of the CompuCom acquisition, with the announcement of its third-quarter 2017 financial results, however the company has lowered its outlook for 2017.

Adjusted operating income(2) for fiscal 2017 is now estimated to be between $400-$425 million, excluding the impact of this transaction, compared to the previous estimate of approximately $500 million. Depreciation and amortization for the year is still estimated at $150 million with capital expenditures totaling $125 million compared to the previous estimates of $150 million for capital expenditures. Our updated guidance is driven by a number of factors, including:

  • Three hurricanes in the U.S. and Puerto Rico, where a significant concentration of our retail and BSD customers are located, particularly in Texas, Florida and Puerto Rico.
  • Lower sales and store traffic during this year’s back to school period, which is typically a strong season for Office Depot.
  • Temporary higher supply chain costs arising primarily from transition issues related to planned consolidation of vendors and warehouses.
  • Professional fees and other costs related to developing our strategy and transition to a broader omnichannel business services platform.

“We have moved quickly to make the necessary management and operational changes to address these performance issues, while investing in our services platform to prepare for this transaction with CompuCom,” commented Gerry Smith.

“We are focused on building stable and recurring service offerings that leverage our omnichannel platform and deliver the solutions our customers need, and strongly believe it can unlock significant value to our shareholders as we position Office Depot for the future.”

Approval Process

This transaction is subject to customary closing conditions, including required regulatory approvals. This transaction is not subject to a shareholder vote and is expected to close by the end of the year.

Advisors

Goldman Sachs & Co. LLC is serving as financial advisor to Office Depot. Wachtell, Lipton, Rosen & Katz is serving as legal counsel. Weil Gotshal & Manges LLP is serving as legal counsel to CompuCom.

Additional information regarding the CompuCom acquisition and accompanying presentation can be found on Office Depot’s website in the “Investor Relations” section.

(1) Source: Gartner “Magic Quadrant for Managed Workplace Services, North America” by Daniel Barros, Helen Huntley, Karen A. Hobert, January 30, 2017. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

(2) Adjusted amounts represent non-GAAP measures and exclude charges or credits not indicative of core operations and the tax effect of these items, which may include but not be limited to merger integration, restructuring, acquisition, asset impairments and executive transition costs.

(3) The company’s preliminary third quarter results and full-year outlook in this release include non-GAAP financial measures such as Adjusted Operating Income and free cash flow may exclude charges or credits not indicative of core operations. Office Depot is unable to provide preliminary results for comparable GAAP measures such as operating income, net income or net cash provided by operating income for the third quarter without unreasonable efforts because the exact amount of these charges or credits are not currently determinable until the closing procedures for the quarter is complete, but may be significant. Accordingly, the company is unable to provide reconciliations from GAAP to non-GAAP for these financial measures without unreasonable effort, although it is important to note that these charges or credits could be material to Office Depot’s third quarter results in accordance with GAAP.

(4) Free cash flow is defined as net cash provided by operating activities less capital expenditures. Capital expenditures exclude the purchase of the company’s previously leased head office.

(5) The estimates reflect Office Depot’s preliminary unaudited estimates and views on market trends observed year to date for 2017 and are based on information available as of the date hereof. Actual results and estimates may differ materially from the estimates and trends described above due to developments or other information that may arise between now and the time the financial results for the third quarter or fiscal year are finalized. These preliminary results should not be viewed as a substitute for our third quarter interim unaudited consolidated financial statements prepared in accordance with GAAP.

(6) Management of Office Depot believes that the presentation of non-GAAP financial measures such as Adjusted Operating Income and free cash flow enhances the ability of its investors to analyze trends in its business and provides a means to compare periods that may be affected by various items that might obscure trends or developments in its business. Non-GAAP measures help to evaluate programs and activities that are intended to attract and satisfy customers, separate from expenses and credits directly associated with merger, restructuring, and certain similar items. Our measurement of these non-GAAP financial measures may be different from similarly titled financial measures used by others and therefore may not be comparable. These non-GAAP financial measures should not be considered superior to the GAAP measures, but only to clarify some information and assist the reader.

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.

About CompuCom

CompuCom Systems, Inc., a global company headquartered in North America, provides IT managed services, infrastructure solutions, consulting and products to Fortune 1000 companies committed to enhancing their end users’ experience. Founded in 1987, privately held CompuCom employs approximately 11,500 associates. For more information, visit www.compucom.com.

About Thomas H. Lee Partners, L.P.

Thomas H. Lee Partners, L.P. (“THL”) is a premier private equity firm investing in middle market growth companies, headquartered in North America, exclusively in four industry sectors: Business & Financial Services, Consumer & Retail, Healthcare, and Media, Information Services & Technology. Using the firm’s deep domain expertise and the internal operating capabilities of its Strategic Resource Group, THL seeks to create deal sourcing advantages, and to accelerate growth and improve operations in its portfolio companies in partnership with management teams.

Since its founding in 1974, THL has raised over $22 billion of equity capital, acquired over 140 portfolio companies and completed over 360 add-on acquisitions which collectively represent a combined enterprise value at the time of acquisition of over $200 billion.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. The securities offered and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws.

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,” “outlook,” “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, the ability to consummate the transaction between Office Depot and CompuCom pursuant to the terms and in accordance with the timing described in this press release, the risk that Office Depot may not be able to realize the anticipated benefits of the transaction due to unforeseen liabilities, future capital expenditures, expenses, indebtedness and the unanticipated loss of key customers or the inability to achieve expected revenues, synergies, cost savings or financial performance after the completion of the transaction with CompuCom, the risk that the refinancing of CompuCom’s outstanding debt is not obtained on favorable terms, uncertainty of the expected financial performance of Office Depot following the completion of the transaction, impact of weather events on Office Depot’s business, impacts and risks related to the termination of the attempted 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 and other international 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, as amended, and Quarterly Reports on Form 10-Q filed with the U.S. 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 

AnneMarie Mathews
305-733-9744
Media Relations
AnneMarie.Mathews@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot welcomes N. David Bleisch as its EVP, Chief Legal Officer and Corporate Secretary

Office Depot welcomes N. David Bleisch as its EVP, Chief Legal Officer and Corporate Secretary

 

Boca Raton, Fla., 2017-Sep-21 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office supplies, business products and services delivered through an omnichannel platform, today ( September 20, 2017) announced N. David Bleisch, a distinguished law professional with more than 30 years of experience, has joined the company as Executive Vice President, Chief Legal Officer and Corporate Secretary.

Bleisch will lead the strategic direction of the legal organization and operations, as well as manage the regulatory and compliance matters for the company. He will report directly to Office Depot’s Chief Executive Officer Gerry Smith.

“David has been a trusted legal advisor for many years and has provided strategic legal solutions to key business issues within the organizations he’s worked for with an outstanding track record,” said Gerry Smith, Chief Executive Officer for Office Depot, Inc. “He is an experienced and knowledgeable leader in his field and we are thrilled to welcome him to Office Depot as the new Chief Legal Officer.”

David has broad expertise in securities compliance, enterprise risk management, corporate finance, antitrust, litigation, intellectual property management, government and regulatory affairs, investor relations, labor and employment issues, shareholder engagement, class action lawsuits and mergers and acquisitions.

Prior to joining Office Depot, Bleisch was Senior Vice President and Chief Legal Officer for The ADT Corporation, where he managed the legal, environmental, health and safety, government affairs and corporate governance matters. Earlier in his career, he served in several leadership roles at Tyco International before being appointed Vice President and General Counsel of Tyco Security Solutions, the largest operating segment of Tyco, comprised of ADT Worldwide, Tyco Security Products and Tyco Retail Solutions. During this time, he also managed the intellectual property legal group for all of Tyco’s operating segments worldwide.

“What I found most compelling about Office Depot is the energy and excitement around the company’s vision for innovation and continuous improvement,” said Bleisch. “I’m eager and excited to join the company at such a critical phase in its growth and development.”

Bleisch is filling the role vacated by Steve Calkins who was promoted to President, Business Solutions Division in May.

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.

Contact:

AnneMarie Mathews
561-438-6710
annemarie.mathews@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot collaborates with Elementum to fortify its omnichannel operations

Boca Raton, Fla., 2017-Sep-08 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office supplies, business products and services delivered through an omnichannel platform, today announced it is collaborating with Elementum to fortify its omnichannel operations, providing the company the ability to deliver products and services at unparalleled velocity and scale across all customer channels. The implementation of Elementum will provide comprehensive operational visibility, enabling Office Depot to act quickly, proactively and flexibly across global functions.

“Utilizing Elementum is a game-changer for our operations and performance,” said Gerry Smith, chief executive officer of Office Depot, Inc. “With this sophisticated technology, we will transform our company, as we fully leverage this tremendous asset to better serve our existing customers and seek new opportunities.”

Elementum provides new levers to manage global operations with industry leading cloud-based collaboration capabilities, as well as comprehensive, global visibility across every segment of business operations: procurement, logistics, manufacturing, and inventory management. Now, Office Depot teams will be able to interact proactively across functions as issues arise, while Elementum’s Situation Room provides executives with a central “Mission Control” from which to see and manage production, shipping and inventory based on data aggregated from all Elementum apps. These capabilities will help differentiate Office Depot in the world of eCommerce and ever-changing customer expectations.

Specific benefits of the Elementum solution at Office Depot include managing full-scale operations with global context to shrink lead times and ensure material availability; as well as proactively adjusting to issues in real time to deliver on-time and prevent stockouts. In addition, the technology will accelerate decision-making among cross-functional teams.

“Reaching customers is not about slashing costs; it’s about creating a frictionless experience that captivates them. I am impressed with Office Depot’s commitment to transformation, and it inspires me to team up with businesses that invite big change. This partnership with Office Depot is exactly what Elementum stands for: empowering companies to deliver exceptional customer experiences,” said Nader Mikhail, founder and CEO of Elementum.

Click here for b-roll.

About Elementum
Imagine fumbling around in a dark room for your keys, but everything you knock over costs you 100 million dollars. That’s how the product economy runs today: an endless series of expensive stopgaps to compensate for operational uncertainty. Companies are forced to make huge bets based on blind guesswork, resulting in inefficient cash conversion and disappointed customers. That’s why Elementum is building the Product Graph™ — a digital representation of the global product economy to provide businesses with an enlightened perspective into their operations. An open, constantly growing ecosystem, the Graph shines light on the flow of over $500B worth of global commerce and seamlessly connects cross-enterprise operations, enabling companies to meet customers’ product needs with speed, efficiency, and integrity. Elementum is the engine that fuels businesses and empowers brands to delight customers. For more information, visit us at www.elementum.com.

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.

AnneMarie Mathews
Office Depot, Inc.
561-438-6710
annemarie.mathews@officedepot.com

Rob Cheng
Elementum
650-265-7991
rob@elementum.com

SOURCE: Office Depot, Inc.

Posted on by

Office Depot expands its Strategic Partnerships Program that benefited school districts, superintendents and school leaders

Program Helps Superintendents and School Districts with Strategic Design, Organizational Alignment and Resource Allocation

Boca Raton, Fla., 2017-Aug-29 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office products, services, and solutions, today (August 28, 2017) announced that it is expanding its Strategic Partnerships Program. The program, which initially started in Connecticut, has gradually expanded across the Northeast, Southeast and West Coast. Over the past year, the program has benefited school districts, superintendents and school leaders through strategic design, organizational alignment and optimization of resources.

The Strategic Partnership Program, which is part of Office Depot, Inc’s Committed to Learning™ initiative, addresses one of the greatest challenges educators face today — the need for a strategic plan that focuses on continuous improvement while providing measurement of progress and enabling districts to accomplish more with existing resources.

As a part of the process, Office Depot, Inc.’s education consultants, many of whom are former teachers and administrators, meet with superintendents and lead decision makers to develop the district’s shared vision, mission and goals. To date, partner districts have shown strong results through budgetary calibration, increased cost efficiency and improved staff alignment.

“Our Committed to Learning initiative helps districts take care of their business, and their learners, using innovative tools and practices that previously were confined to large companies,” said Becki Schwietz, senior director for K-12 education for Office Depot, Inc. “Once districts begin partnering with our education consultants, they learn we are a new kind of partner.”

Office Depot, Inc. has launched the Strategic Partnerships Program with multiple districts including McAllen Independent School District in Texas, West Bloomfield School District in Michigan and Wallingford Public Schools in Connecticut, all of which have seen a positive impact in their district and communities.

“Students and teachers are asked to do more than ever, so we knew we had to reimagine ways to alleviate some of that pressure,” said Dr. J.A. Gonzalez, superintendent of McAllen Independent School District. “Through our partnership with Office Depot, we have been able to execute the vision of creating environments that are authentic and engaging, to help ensure that our teachers and students succeed.”

Education consultants partnered with McAllen to determine the school district’s needs and develop a strategic plan that emphasizes early learning and community engagement. They also partnered with West Bloomfield School District to create a road map for collaborative classrooms, with an emphasis on STEAM.

“We know that modern learning environments enable students to better prepare for future careers, so when we started thinking about implementation, we turned to Office Depot, one of our trusted business partners, for their support”, said Alesia Flye, deputy superintendent for West Bloomfield School District. “As a result of our partnership, we have planned for the implementation of collaborative classrooms within our district with a focus on science, technology, engineering, arts and mathematics.”

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 leaders and strategic thinkers in education 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 contact them directly via committedtolearning@officedepot.com.

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

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.

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 by

Office Depot honored with “Partners of Choice Award” by David Weekley Homes

Marks the Twelfth Consecutive Year Office Depot Has Received the Nationally Acclaimed “Partners of Choice” Award from David Weekley Homes

Boca Raton, Fla., 2017-Aug-29 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office products, services, and solutions, today (August 28, 2017) announced it has been honored with the coveted “Partners of Choice Award” by David Weekley Homes, the largest privately-held home builder in North America, for receiving an “A” rating in product quality. It is the twelfth consecutive year that Office Depot has received the esteemed award given this year to only eight of the home builder’s suppliers.

“Product quality is a top priority for Office Depot and we are honored to be recognized for our efforts by David Weekley Homes with the prestigious ‘Partners of Choice’ award,” said Steve Calkins, president of business solutions division for Office Depot, Inc. “We are committed to exceeding customer expectations by continuing to provide quality products and services at a great value for our customers.”

Now in its fourteenth year, the “Partners of Choice” award is presented to suppliers based on their quality and service rating in David Weekley Homes’ “National Trading Partner Survey.” On a quarterly basis, team members complete a comprehensive supplier evaluation review that allows them to rate approximately 200 suppliers on their effectiveness in delivering quality to the organization. The evaluation process is designed to facilitate best-practice communications and operations between all channel partners and the homebuilder. The award is presented to companies that receive the highest marks from approximately 1,000 David Weekley Homes associates from all levels within the organization.

“The rating system for the National Trading Partner Survey is rigorous and extensive, yet Office Depot continues to be one of our top-rated suppliers each year,” said Bill Justus, vice president supply chain services for David Weekley Homes and executive sponsor of the supplier evaluation platform. “The company received the award because they have proven to be a world-class leader in providing quality products to our team and it reflects in their annual ratings.”

In compiling the results of the National Trading Partner Survey, each company’s numeric scores are averaged, and then an alpha rating is assigned relative to its ranking as compared with all of Weekley’s other national trading partners. Alpha ratings range from A to F in 20 percent increments. The “Partners of Choice” Award is presented to suppliers who maintained either an “A” rating in either quality or service.

Office Depot has been a partner of David Weekley Homes since 2002, providing office supplies and services.

About David Weekley Homes
David Weekley Homes, founded in 1976, is headquartered in Houston and operates in 23 cities across the United States. David Weekley Homes was the first builder in the United States to be awarded the Triple Crown of American Home Building, an honor which includes “America’s Best Builder,” “National Housing Quality Award” and “National Builder of the Year.” Weekley has also appeared 10 times on FORTUNE magazine’s “100 Best Companies to Work For®” list. Since inception, David Weekley Homes has closed more than 80,000 homes. For more information about David Weekley Homes, visit the company’s website at www.davidweekleyhomes.com.

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.

Contact:
Sarah England
561-438-1448
sarah.england@officedepot.com

Joni Fletcher
561-438-4642
joni.fletcher@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot offers educators 25 percent off during Teacher Appreciation Days

BOCA RATON, Fla., 2017-Jul-22 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ: ODP), a leading provider of office products, services, and solutions, through its Office Depot and OfficeMax brands, is celebrating educators by helping them “Take Care of Back to School” during Teacher Appreciation Days with 25 percent off a qualifying purchase1available in stores now through July 22 and Aug. 13-19 for members of the Office Depot® OfficeMax® Rewards Everything program, which is free to join.

In order to obtain the discount, teachers simply show a coupon, available at officedepot.com, and present to an associate during checkout.

“Educators work hard year round, and Office Depot is supporting them by offering additional savings during Teacher Appreciation Days,” said Troy Rice, president, retail for Office Depot, Inc. “Teachers can stock up for the upcoming school year at Office Depot and OfficeMax stores and find the items they need for their classrooms to make their students successful.”

And, teachers, parents and other shoppers can Give Back to Schools with any qualifying purchase made at Office Depot or OfficeMax retail stores or online through this program allowing them to earn store credits for the school of their choice. The school will receive 5 percent back in the form of Office Depot OfficeMax merchandise certificates. Shoppers simply need to present a school program ID, which can be found at officedepot.com/givebts. The Give Back to Schools program offers local residents and businesses a free, simple and convenient way to make a difference in their communities.

For more information about Teacher Appreciation Days, Office Depot® OfficeMax® Rewards Everything program, or Give Back to Schools initiative, visit officedepot.com/teachers .

About Office Depot, Inc.

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

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.

1 Valid in store only for Office Depot® OfficeMax® Rewards program members. Excludes technology, consumer electronic products and accessories, media and software products, HP ink & toner and Epson ink. Other exclusions apply. See a store associate for coupon. Limit 1 per member. Coupons valid 07/16/17 – 07/22/17 11:59 PM ET and 08/13/17 – 08/19/17 11:59 PM ET.

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

Source: Office Depot, Inc.

Posted on by

Office Depot announces new loyalty program

BOCA RATON, Fla., 2017-Jul-12 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office products, services, and solutions, today (July 10, 2017) announced a new loyalty program to save customers money with expanded benefits, “Office Depot OfficeMax Rewards Everything”. The program has been updated to ensure every member is rewarded, and by creating a VIP tier, gives members even more savings while delivering an exclusive experience. In addition, the program is free to join.

The company conducted extensive research, including a year-long pilot in several markets, to gather customer feedback and used their input and data to redesign a program that best meets customer needs.

“’Office Depot OfficeMax Rewards Everything’ simplifies our loyalty program by offering 2 percent back in rewards on everything, and we mean everything,” said Lukana Justin, vice president of customer marketing for Office Depot, Inc. “It’s simple to use and save while providing members with quicker access to rewards.”

With no minimum thresholds for redeeming reward dollars, members can access and use their available rewards any time at any Office Depot and OfficeMax stores or on officedepot.com.

Signing up for the program has been simplified with card-free enrollment. In addition, “Office Depot OfficeMax Rewards Everything” integrates seamlessly with the company’s mobile app.

Customers who spend more, such as small businesses, can take advantage of “Office Depot OfficeMax Rewards Everything’s” VIP Tier. After spending $500 within a year, VIP members will receive free delivery with no minimum purchase and earn 5 percent back on ink, toner, paper, printing and copying services for 12 months. VIP Members also receive exclusive perks such as special promotions, a birthday offer and free product samples or services.

All members of the new program will also have access to member-only promotions and personalized offers based on their shopping habits. Additionally, “Office Depot OfficeMax Rewards Everything’s” members can earn $2 in rewards by posting online product reviews.

For more information about “Office Depot OfficeMax Rewards Everything” or to sign up, visit officedepot.com/rewards or the nearest Office Depot or OfficeMax store.

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 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.

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

Sarah England
561-438-1448
Sarah.England@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot unveils national advertising campaign for “Taking Care of Business” brand platform

BOCA RATON, Fla, 2017-Jun-27 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office products, services, and solutions, today (June 26, 2017) announced the launch of its iconic “Taking Care of Business” brand platform, which has been modernized for today’s busy working professionals and consumers alike. The company’s interactions with customers will emphasize the sentiment: “You Take Care of Business, We Take Care of You.” As part of the brand platform rollout, the company is unveiling its national advertising campaign.

The new “Taking Care of Business” brand platform and advertising campaign not only resonates with its customers, but strengthens Office Depot’s position as a reliable resource for them while affording the company opportunities for growth and expansion in the future.

“‘Taking Care of Business’ was instantly recognizable by all of our customer segments and gave us distinct brand differentiation,” said Diane Nick, senior vice president of marketing for Office Depot, Inc. “We know our customers work hard at taking care of their businesses. Through this platform that will be amplified across our channels, we want them to know that we’ll be there to take care of them.”

And, customers will hear a familiar tune playing in the background of the television and radio commercials — the original version of the well-known song, “Taking Care of Business” — tested well in a survey of 2,000 participants comprised of shoppers representing groups such as small business (SMBs), enterprise or contract, and personal, in addition to college students. They identified it as “for people like me,” “fresh” and “innovative,” driving a significant lift in Office Depot’s brand perception.

“The modernized version of ’Taking Care of Business’ also conveys that everyone has business needs to take care of regardless of the inevitable twists and turns in today’s fast-paced, non-stop world,” added Nick. “Office Depot is keeping up with these changes to best deliver on taking care of the customer. Research we conducted found that many of our customers, business owners and moms alike, consider themselves resourceful. Through this brand platform, Office Depot is the go-to resource for these resourceful individuals.”

The advertising campaign is fully-integrated and supported with national television and radio ads; social media; digital advertising; email marketing; inserts; direct mail; and in retail stores and on officedepot.com including the mobile site, mobile app and more.

The brand platform and advertising campaign was developed in conjunction with the company’s agency of record, Zimmerman Advertising.

“With the new Taking Care of Business campaign, Office Depot becomes the champion of its customers, showing how the company is there to help them win and succeed,” said Michael Goldberg, chief executive officer at Zimmerman Advertising.

Two national television commercials were produced and one features workers from different occupations: entrepreneur, mom, architect, general contractor, plumber and office professionals highlighting how they manage to take care of their business in the face of life’s obstacles. In turn, Office Depot takes care of them serving as a resource by providing the services, solutions and products they need. The 30-second commercial can be viewed here.

Survey methodology: Fielded in May of 2017; Sample N=2,000 is inclusive of SMB shoppers (600), contract sales shoppers (400), college students (400) and personal shoppers (600).

About Office Depot, Inc.

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

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.

Contact:

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

Sarah England
561-438-1448
sarah.england@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot enters exclusive licensing agreement with Centriq Technology to develop unique business application

BOCA RATON, Fla. & SAN FRANCISCO, 2017-Jun-24 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office products, services, and solutions, announced it is entering into an exclusive licensing agreement with Centriq Technology, Inc., to develop a unique business application utilizing their award-winning asset management platform.

“This exclusive agreement with Centriq is the first step in showing that we are moving toward a strategic transformation of our company outside of the traditional retail model,” said Gerry Smith, chief executive officer of Office Depot, Inc. “Centriq’s unique technology platform has many applications and we will leverage that technology to provide new services and an interactive sales experience for our customers beyond the traditional modes of selling paper, ink and toner.”

Centriq’s current application was named a game-changer as a home management resource. Centriq Home, available for iOS and Android, connects homeowners to product manufacturers for a greatly improved product experience. Centriq creates a single, comprehensive and personalized user guide for everything in their home. Support content, troubleshooting and parts and accessories purchases are available with a simple click. Users are also able to get rapid, on-site help from top-rated professionals, and access specific, highly relevant content from the Emmy-winning series, “This Old House” and “Ask This Old House,” directly through the app.

Office Depot will work with Centriq to develop a business to business version of their current app that will enable businesses to better manage their assets whether it be a printer, PC or another device all in one place. “The benefit for businesses is efficient management of their assets and retention of that knowledge all in the palm of their hand,” added Smith. “Through game-changing applications like this, we will differentiate Office Depot and provide value for our customers.”

“We couldn’t imagine a better partner than Office Depot for Centriq,” said James Sheppard, co-founder of Centriq. “We are delighted that they are licensing our core technology for their exciting vision to transform their business and industry.” Office Depot will also be a minority investor in Centriq, as it seeks to leverage emerging technologies to bring innovative solutions to the millions of small, medium and large customers it services today.

About Centriq:

Centriq is an early stage technology company that was founded in January 2015 by former digital innovation executives from Salesforce.com who were tired of the hassles of being a homeowner. Centriq is privately funded and is headquartered in the San Francisco Bay Area. Visit www.centriqhome.com for more information, and download the free app on Google Play or the App Store.

About Office Depot, Inc.

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

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.

Contact:
AnneMarie Mathews
561-438-6710
Media Relations
AnnMarie.Mathews@officedepot.com

Centriq Technology, Inc.
James Sheppard
888-567-8118
Media Relations
media@centriqhome.com

Source: Office Depot, Inc.

Posted on by

Office Depot to sell its business in mainland China to Shanghai M&G COLIPU Office Supplies Co., Ltd

BOCA RATON, Fla., 2017-Jun-03 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ: ODP), a leading provider of office products, services, and solutions, today (June 2, 2017) announced that it has reached an agreement to sell its business in mainland China to Shanghai M&G COLIPU Office Supplies Co., Ltd. Office Depot had previously disclosed its intention to sell substantially all of its international businesses under a process that began in 2016.

The transaction is subject to regulatory approval and is expected to close within the next several months.

About Purchaser

Shanghai M&G COLIPU Office Supplies Co., Ltd. is a subsidiary of Shanghai M&G Stationery INC., a China-based public company mainly engaged in the manufacture and sale of writing instruments and both student and office stationery.

About Office Depot, Inc.

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

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.

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,” “outlook,” “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 and other international 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, as amended, and Quarterly Reports on Form 10-Q filed with the U.S. 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

AnneMarie Mathews
561-438-6710
Media Relations
AnnMarie.Mathews@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot expands its North American business with senior executive appointments

BOCA RATON, Fla., 2017-May-31 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading provider of office products, services, and solutions, today (May 30, 2017) announced the appointment of several senior executives to align with the Company’s focus to grow its North American business.

Steve Calkins has been named President, Business Solutions Division, focused on serving Office Depot’s B2B customers. With Office Depot since 2003, Calkins has been the Company’s Executive Vice President and Chief Legal Officer since August 2016. Prior to that, he held various executive leadership roles in operations for over five years, including having responsibility for the Company’s contract sales business and Canadian operations. Having already been successful in these roles, he brings a wealth of knowledge and relationships that will support the continued momentum currently underway and drive expansion in adjacencies and services among B2B customers.

Troy Rice has been named President, Retail Division, focusing on our B2C customers. With a background of nearly 30 years in the retail industry, Rice, will maintain responsibility for setting the strategic direction of the Company’s retail offerings while transforming the customer experience. In addition, he will oversee the Copy and Print business. Rice was previously Executive Vice President and Chief Operating Officer, and has been with Office Depot since April 2014. Prior to joining Office Depot, Rice held various executive leadership roles with Toys “R” Us and The Home Depot.

“With our Company’s revenue evenly split between the retail and delivery businesses, it is imperative that we have strong leadership to meet our customer needs in both of these key business segments,” said Gerry Smith, Chief Executive Officer for Office Depot, Inc. “Both Steve and Troy have significant experience leading these businesses which will allow us to better leverage our integrated multi-channel business model and continue to execute against our strategic initiatives.”

Additionally, Michael Allison, formerly Executive Vice President and Chief People Officer, recently has assumed the new role of Executive Vice President, Chief Administrative Officer. With Office Depot since 2006, Allison is utilizing his significant company and industry experience as he continues to oversee Human Resources, Communications, Loss Prevention and Events, and has added responsibilities for IT, Real Estate and Construction.

Kevin Moffitt, currently Senior Vice President, eCommerce, will assume the expanded role of Chief Digital Officer, leading eCommerce and all digital-related activities for the Company. Moffitt, who has been with the company since 2012, will build on his more than 20 years of experience creating integrated, customer-centric digital experiences. Reporting to Steve Calkins, he will be responsible for transforming Office Depot’s digital platforms, driving digital strategy and innovation and accelerating the company’s online and mobile growth.

In addition, John Gannfors has recently joined Office Depot as Executive Vice President, Transformation and Strategic Sourcing. Gannfors is leading the company’s Transformation Office, process improvement and strategic sourcing areas where he will be responsible for procurement, driving business process improvements across the organization and executing on various efficiency and cost savings opportunities. He most recently spent nearly 10 years as Vice President, Global Supply Chain and Chief Procurement Officer, Data Center Group, at Lenovo. Prior to joining Lenovo, he spent approximately 12 years in various leadership roles at Dell.

Rounding out the company’s executive team are Stephen Hare, Executive Vice President and Chief Financial Officer, and Timothy Beauchamp, Executive Vice President, Supply Chain.

“I am confident that with these leaders in place, we have the optimal structure and expertise to support and expand our customer base and focus on growing our North American business to position Office Depot for long-term future success,” added Smith.

About Office Depot, Inc.

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

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.

Contact:
AnneMarie Mathews
561-438-6710
Media Relations
annemarie.mathews@officedepot.com

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

Source: Office Depot, Inc.

Posted on by

Office Depot declares quarterly dividend of $0.025 per share

BOCA RATON, Fla., 2017-May-10 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ: ODP) announced that its Board of Directors declared a dividend of $0.025 per share ($0.10 per share on an annualized basis) on the common stock of the Company. The dividend is payable on June 15, 2017, to shareholders of record at the close of business on May 25, 2017.

About Office Depot, Inc.

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

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.

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,” “outlook,” “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 and other international 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, as amended, and Quarterly Reports on Form 10-Q filed with the U.S. 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 by

Office Depot closes sale of its business in South Korea to Excelsior Capital Asia

BOCA RATON, Fla., 2017-Apr-30 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ: ODP) today (April 26, 2017) announced that it has closed on the sale of its business in South Korea to Excelsior Capital Asia. Office Depot had previously disclosed its intention to sell substantially all of its international businesses under a process that began in 2016.

“This transaction follows on the recently announced agreement to sell our businesses located in Australia and New Zealand,” said Gerry Smith, chief executive officer for Office Depot. “We are now one step closer to achieving our goal of divesting substantially all of our international businesses in order to focus on the growth opportunities available in the North American market.”

Excelsior Capital Asia, a Hong Kong and Korea based direct investment firm, invests throughout Asia on behalf of major Korean institutions, pension funds and private family offices.

About Office Depot, Inc.

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

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.

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.

SOURCE: Office DEPOT®

Contacts:

Office Depot, Inc.
Richard Leland, 561-438-3796
Investor Relations
Richard.Leland@officedepot.com
or
Karen Denning, 630-438-7445
Media Relations
Karen.Denning@officedepot.com

Posted on by

Office Depot to help Washington Elementary School reopen with new design and furniture

BOCA RATON, Fla., 2017-Apr-26 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading global provider of office products, services, and solutions, today (April 24, 2017) announced a partnership with Washington Elementary School in Sacramento, CA, to help the school reopen, reimagining the school’s design after two years of sitting dormant due to a declined intercity enrollment and budget cuts. In less than four months, Office Depot, Inc., in partnership with HMC Architects, completed furniture specifications, product samples, design renderings and installed furniture in the new classrooms, cafeteria, media commons and administrative areas.

Providing solutions to different types and sizes of schools is central to Office Depot, Inc.’s Committed to Learning™. Washington Elementary School, the winner of California’s Coalition for Adequate School Housing’s Design Honor Awards for Modernization and Transformation, proved to be a unique opportunity since the school reopened with a focus on STEAM classrooms (Science, Technology, Engineering, Art & Mathematics). Office Depot, Inc., combined its deep expertise in design and furniture implementation with its contact furniture dealership, Workspace Interiors by Office Depot, to develop learning environments that reinforce the project-based nature of the curriculum.

Office Depot, Inc. works with school districts around the country to design classrooms with new technology and furniture to help meet the changing needs of students today. For Washington Elementary School, the company provided flexible furnishings to allow students and teachers the ability to tailor their learning experience while integrating technology and incorporating one-on-one learning.

“Our goal was to reimagine an innovative way to approach learning and teaching at Washington Elementary School rather than replicate the previously closed version,” said Dr. Gema Godina-Martinez, principal at Washington Elementary. “Through Office Depot’s partnership, we were able to not only offer students and staff a new place to learn, but hope and excitement for families in the community.”

Combining decades of classroom design and furniture experience with expert consultants from across the education sector, Office Depot, Inc.’s Committed to Learning™ brand offers schools new choices in classroom innovation, and offers communities new ways to revitalize their local school facilities. Since Washington Elementary School reopened, forward thinking educators have been drawn to the school’s innovative feel and design, allowing families and students to be welcomed back to their neighborhood school.

“With Washington Elementary, we provided help with the design and furniture, but became a partner for something much larger,” said Becki Schwietz, senior director for K-12 education at Office Depot, Inc. “Not only did we create safe and comfortable spaces for students to allow for more innovative and forward thinking, but assisted in reopening a school that is critical to many families and students. Assisting local neighborhood schools is a crucial component of the company’s overall commitment to learning.”

Office Depot’s passion for helping local neighborhood schools through our Workspace Interiors division was matched by the lead architectural firm on the project, HMC Architects. The Workspace Interiors team worked closely with HMC Architects throughout the project to ensure the forward thinking designed environments supported Washington Elementary’s STEAM learning goals.

“Our mission at HMC Architects is to partner with communities to serve the greater good,” said Aaron Buehring, senior project designer at HMC Architects. “Through partnering with Workspace Interiors by Office Depot, we were able to work together to design and build a school that the students and administrative staff can be proud of.”

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.”

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.

About Washington Elementary

Washington Elementary, located in midtown Sacramento, reopened on September 1, 2016 as a STEAM school utilizing Project Based Learning (PBL) as the main teaching method. In partnership with community members and businesses, our staff have identified real world and authentic problems aligned with common core standards creating the opportunity for our students to develop the skills and attributes to lead successful lives.

Washington Elementary provides an engaging and collaborative community where all learners thrive. We are a STEAM-focused school with a sustainable model for innovation that supports learners in solving authentic problems through inquiry.

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 by

Office Depot to sell its business in Australia and New Zealand to Platinum Equity

BOCA RATON, Fla., 2017-Apr-20 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ: ODP) today announced that it has reached an agreement to sell its business in Australia and New Zealand to Platinum Equity. Office Depot had previously disclosed its intention to sell substantially all of its international businesses under a process that began in 2016.

“I’m very pleased that we were able to reach a favorable agreement to sell the Australia and New Zealand businesses to Platinum Equity,” said Gerry Smith, chief executive officer for Office Depot. “The proceeds from this transaction will further enhance our financial flexibility as we focus on our strategic initiatives to grow our North American business.”

Platinum Equity is a leading global private equity firm with a highly specialized focus on business operations and more than 20 years’ of experience acquiring and operating businesses that have been part of large corporate entities.

The transaction is subject to regulatory approval in each country and is expected to close within the next several months.

Goldman, Sachs & Co. acted as Office Depot’s exclusive financial advisor on the transaction.

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.”

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.

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.

SOURCE: Office DEPOT® | OfficeMax®

Office Depot, Inc.
Richard Leland, 561-438-3796
Investor Relations
Richard.Leland@officedepot.com
or
Karen Denning, 630-438-7445
Media Relations
Karen.Denning@officedepot.com

Posted on by

Office Depot releases its 2017 Diverse Supplier Catalog

BOCA RATON, Fla., 2017-Apr-18 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading global provider of office products, services, and solutions, today (April 17, 2017) announced the release of the company’s 2017 Diverse Supplier Catalog. The catalog highlights an assortment of more than 2,000 items ranging from paper and toner, to laptop cases, mailing and shipping supplies, office furniture, writing instruments, cleaning and breakroom products, desk accessories, school supplies and electronics, with more than 1,000 products also containing eco-attributes or eco-labels.

Office Depot was the first in the office supplies industry to create such a catalog in 2009. The Diverse Supplier Catalog features Office Depot’s complete assortment of products sold by diverse vendors and is available to the company’s Business Solutions Division (BSD) customers. Office Depot’s diverse suppliers are certified minority-, women-, disabled-, LGBT-, veteran-owned and small businesses.

“Just as environmental sustainability helps protect our planet, supplier diversity helps protect our economy as it plays an essential role in the financial stability of our industry,” said Petter Knutrud, SVP, merchandising for Office Depot, Inc. “Office Depot’s 2017 Diverse Supplier Catalog provides opportunities for small and diverse-owned businesses to grow and succeed, and helps our customers in their supplier diversity purchasing initiatives.”

New vendors to the catalog include Omar Medical Supplies, a minority-owned industrial and medical supplier; National Office Works, a woman-owned small business that offers a variety of office supplies; and STOUT by Envision, Inc., which offers industrial and commercial-grade products and whose mission is to improve the quality of life and provide inspiration for the blind and visually impaired through employment, outreach, rehabilitation, education and research. The catalog also contains small business success stories, a resource guide and icons designed to show a product’s diverse attributes at a quick glance.

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.”

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.

Contact:
Rebecca Rakitin
561-438-1450
Rebecca.Rakitin@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot Small Business Index survey revealed most SMBs did not use tax software in 2016

BOCA RATON, Fla., 2017-Mar-07 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), the leading global provider of office products, services, and solutions revealed in its latest Small Business Index survey that approximately three-fourths (70 percent) of small business owners (SMBs) indicated they did not use tax software when they filed their taxes in 2016. The survey results also showed that one in four (24 percent) of large SMBs (those with 50-99 employees) still use paper forms compared to the 20 percent that reported they were using online tax software.

“With the availability of tax software at office supply stores like Office Depot and OfficeMax and the variety and ease of use of tax software available today, such as TurboTax or H&R Block, SMBs should strongly consider transitioning to tax software,” said Christine Nessen, senior director of contract marketing for Office Depot, Inc. “Tax software can provide SMB owners with the flexibility to file their taxes at their own pace.”

One in every 10 SMBs (11 percent) waited to file their taxes on Tax Day or asked for an extension. The survey results also revealed that 21 percent of SMBs indicated that they were looking to use more technology and/or use less paper while filing their taxes in 2017, out of the 61 percent who indicated that they were looking to make changes in how they filed their taxes this year.

“Owners of businesses large and small should aim to start organizing their paperwork at least one to two months before Tax Day so they don’t feel the stress of filing last minute or asking for an extension,” said Nessen. “Office Depot has a variety of products to help SMBs organize their paperwork, shred sensitive documents and file their taxes.”

With tax season approaching rapidly, Office Depot and OfficeMax stores are the one-stop shop for all tax-related needs, for both SMBs and consumers. With a variety of services ranging from tax software, to shredding and copying services, to small business experts, Office Depot and OfficeMax stores have everything SMBs need to successfully file their taxes.

Survey Methodology/Sample Qualifications

Interviews are conducted online among a nationally representative sample of small and medium-sized businesses. The wave of interviewing was conducted from October 15 – December 30, 2016 among a total of 1,500 small and medium-sized businesses.

For more SMB resources and tax tips visit Office Depot’s Ideas Center at officedepot.com/cm/collections/ideas.

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.

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

APCO Worldwide
Lauren O’Leary
646-556-9323
loleary@apcoworldwide.com

Source: Office Depot, Inc.

Posted on by

Office Depot debuts the latest addition to Realspace® Magellan Collection – The Height-Adjustable Desk

Adjustable-Height Desks Promote a Flexible Lifestyle with Effortless Transitions between Sitting and Standing

BOCA RATON, Fla., 2017-Jan-19 — /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 (January 18, 2017) announced the debut of the latest addition to the exclusive Realspace® Magellan Collection – The Height-Adjustable Desk with pneumatic technology. This new sit stand desk is expertly designed with ergonomic features such as effortless transitions between sitting and standing, which provide a flexible alternative to the typical office desk.

Equipped with a durable, scratch-resistant surface and steel legs in a black powder coating finish, the Realspace® Magellan Height-Adjustable desk is the ideal work station for all needs and work locations. The pneumatic technology, which uses pressurized air to raise the desk surface with ease, accommodates a wide range of working positions. The standard seated-height desk, comfortably positioned at 30 inches high, can raise to the extended-height of your choosing, up to 43 inches to accommodate a comfortable standing position.

Research proves the importance of utilizing a full range of body motion in our everyday life. The simple adjustability of this Height-Adjustable Desk fully supports varied positions throughout the day, using the pneumatic lift-assist to easily adjust the surface of the desk from a seated height to a standing height, for maximum daily use.

“Office Depot recognizes the importance of health and wellness to our customers and so is adapting its product selection to support those goals,” said Ron Lalla, executive vice president of merchandising for Office Depot, Inc. “The new Realspace® Magellan Height-Adjustable Desk enables a flexible solution grounded in great design.”

Featuring outstanding quality and durability consistent with the Realspace brand, the Magellan Height-Adjustable Desk incorporates enhanced functionality desired for optimal comfort and control. The sit stand desk is available in espresso, cherry and a modern gray. It is the perfect companion piece to complement Office Depot and OfficeMax’s premium active and ergonomic WorkPro seating collections.

Check out the Realspace® Magellan Height-Adjustable Desk or visit Office Depot and OfficeMax retail locations for more information and other healthy lifestyle solutions.

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”.

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.

Contact:

APCO Worldwide
Ken Sanderman,
312-368-7548
ksanderman@apcoworldwide.com

Source:  Office Depot, Inc.

Posted on by

Office Depot and Austin Independent School District to develop an innovative entrepreneurship classroom at Crockett High School

BOCA RATON, Fla, 2017-Jan-18 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading global provider of office supplies and services, today (January 17, 2017 ) announced an expanded partnership with Austin Independent School District (AISD). The company recently worked with the district to develop an innovative entrepreneurship classroom at Crockett High School, located in Austin, Texas. Students enrolled in the school’s entrepreneurship program utilize the innovative learning space, which teaches future-focused skills such as creative thinking, problem solving and collaboration.

This entrepreneurship program follows curriculum developed by INCubatoredu, a national program that teaches entrepreneurism through hands-on learning. Classes feature real-world entrepreneurs and business experts who serve as coaches and mentors, guiding student teams through the process of ideation, market research and business model development. In the innovative classroom space, set up to resemble an authentic work space, students can work individually or in small groups, while also accommodating large group presentations.

Office Depot, Inc. works with school districts around the country to design classrooms with new technology and furniture to help meet the changing needs of students today. For the incubator space at Crockett High School, the company provided full turnkey services from visioning to implementation of the furniture, which can be arranged in various configurations to address students’ unique and changing needs.

“The demands of the 21st century workforce are dramatically changing the way students learn in the classroom,” said Becki Schwietz, senior director of K-12 Initiatives for Office Depot, Inc. “With Austin ISD, we wanted to simulate a business atmosphere so students can connect learning with real life. Our design experts worked with educators and learners to create a space that will provide students with the necessary skills to prepare them for future success.”

Students journey through the entrepreneurial experience in the more than 1,500 square foot re-envisioned classroom. The space facilitates distinct teams through product ideation to launch.

Office Depot, Inc. was able to use its diverse furniture and technology portfolio to create a space that best responds to this unique modern learning scenario. Writable surfaces facilitate ideation and brain storming. Soft seating disrupts conformity of the old learning regime by encouraging inter- and intra-teaming collaboration. Digital displays provide access to virtual resources and a place for students to team on digital products, business spreadsheets and marketing materials.

This non-traditional learning environment models those increasingly more common in the global and technologically driven world, notably in Austin, thus providing access to authentic, future-forward skillsets.

With the goal of optimum student engagement, Office Depot, Inc.’s educational team, which includes designers, educators, furniture experts and technology innovators, at the request of Crockett educators, created a survey for students so they could provide input that led to the development of the incubator space. A student committee evaluated and ultimately helped select the furniture and the entire finished package.

“We didn’t want a traditional classroom setting,” said Sissy Camacho, interim principal at Crockett High School. “We wanted an open space designed for students to collaborate, create, and innovate. Office Depot helped create and flawlessly execute our vision.”

Office Depot, Inc. collaborates with school districts and other educational institutions through the company’s “Committed to Learning” initiative, which consists of a national team of education experts and partners across disciplines. In developing this team, the company provides instructional solutions and professional development for educators to enrich the learning experience, in addition to forging partnerships with thought leaders in the industry, including INCubatoredu, to focus on early literacy, cognitive computing, entrepreneurship, project-based learning and innovative learning spaces.

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”.

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 AISD

AISD is the largest school district in central Texas, serving more than 83,000 students at 130 schools. Follow AISD on Facebook at www.facebook.com/austinisd, Instagram at @austinisd or on Twitter at @AustinISD.

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

Edelman
Sarah Hoffman
512-634-3651
sarah.hoffman@edelman.com

Source: Office Depot, Inc.

Posted on by

Office Depot announces completion of the sale of its European business to The AURELIUS Group

BOCA RATON, Fla., 2017-Jan-03 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading global provider of office supplies and services, today (January 2, 2017) announced the completion of the sale of its European business to The AURELIUS Group. This transaction is part of the company’s recently announced international divestiture strategy to focus on opportunities in its North American business.

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”.

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.

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, as well as the Form 8-K filed today with respect to the proposed transaction. 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 by

Office Depot recognized as one of the Best Places to Work for LGBT Equality by the Human Rights Campaign Foundation

BOCA RATON, Fla, 2016-Dec-13 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), a leading global provider of office products, services and solutions and parent company of Office Depot and OfficeMax, today (December 12, 2016) announced that it received a perfect score of 100 percent on the 2017 Corporate Equality Index (CEI), a national benchmarking survey and report on corporate policies and practices related to lesbian, gay, bisexual and transgender (LGBT) workplace equality, administered by the Human Rights Campaign Foundation (HRC). Office Depot joins the ranks of 517 major U.S. businesses which also earned top marks this year.

“We are proud to be recognized as one of the Best Places to Work for LGBT Equality by the Human Rights Campaign Foundation for the sixth year in a row,” said Michael Allison, EVP and Chief People Officer for Office Depot. “Office Depot is committed to providing equal opportunities, rights and benefits to all of our associates. We continue to recruit a workforce that reflects the diversity of the communities that we serve, recognizing that our organization only flourishes when we hire, promote and create paths to leadership for people of every background.”

The 2017 CEI rated 1,043 businesses in the report, which evaluates LGBT-related policies and practices including non-discrimination workplace protections, domestic partner benefits, transgender-inclusive health care benefits, competency programs and public engagement with the LGBT community. Office Depot’s efforts in satisfying all of the CEI’s criteria results in a 100 percent ranking and the designation as a Best Place to Work for LGBT Equality.

“Even in the face of relentless attempts to undermine equality, America’s leading companies and law firms remain steadfast and committed to supporting and defending the rights and dignity of LGBTQ people,” said HRC President Chad Griffin. “The unprecedented expansion of inclusive workplaces across the country and around the globe not only reflects our progress, it helps drive it. As we enter a new chapter in our fight for equality, support from the business community will be more critical than ever to protect our historic advancements over the last decade and to continue to push equality forward for workers, customers and families around the world.”

The Human Rights Campaign Foundation is the educational arm of America’s largest civil rights organization working to achieve equality for lesbian, gay, bisexual transgender and queer people. HRC envisions a world where LGBTQ people are embraced as full members of society at home, at work and in every community.

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.

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:
Rebecca Rakitin
561-438-1450
Rebecca.Rakitin@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot makes it easier than ever to find thoughtful and practical gifts for everyone

BOCA RATON, Fla., 2016-Nov-23 — /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, is making it easier than ever to find thoughtful and practical gifts for even the toughest names on holiday shopping lists. From CEOs looking to embrace the latest tech, to friends with finicky tastes, to co-workers who seemingly have everything, Office Depot has gifts to stuff in everyone’s stocking.

Between trying to decipher hobbies, interests and needs of family, friends and co-workers, searching for the perfect gift for everyone can be stressful for shoppers during the holiday season. Returning this year is the award-winning Co-Worker Collection, a curated shopping experience tailored to co-workers’ quirks and idiosyncrasies.

Shoppers can avoid giving another generic, boring gift with these ideas to make their loved ones’ every day special:

For the Boss Who Still Asks for Printed Copies: They may have the vision and all the right skills, but not all of the right gear. Upgrade the CEO in your life with a new Lexar® JumpDrive® USB 2.0 flash drive or high-tech Samsung Galaxy Tab™ E Lite 7.0″, 8GB, Android™ 4.4 KitKat tablet to bring their presentations into the 21st century.

For the Do-er: They go to the gym every morning before work, have a neatly organized to-do list and nail every presentation. They’re an organized go-getter. Fuel their ambition with the TUL Note-taking System. This fully customizable notebook can be tailored to fit any note-taking style, scheduling and organization needs. It holds all notes, deliverables and color-coded line items in one place to keep their drive strong in the New Year.

For the Kid at Heart: They enjoy life’s little moments and can always be found in the break room or with their hand in a cookie jar. Even though they are full grown, they still think snack time is the best time. Indulge their youthful spirit this holiday season with an assortment of candy and snacks, such as a tin of Walker Shortbread cookies or a box of delicious Godiva chocolates found at Office Depot.

For the Parent Who Makes It Look Easy: Between juggling three kids, client deliverables and deadlines, they make never-ending days look like a breeze. Help them power through their never-ending to-do list with a variety of K-Cup coffee!

For the Creative Minded Co-worker: They are full of unique ideas and out-of-the-box thinking, which conveniently end up all over their desk in a clutter. Co-workers like this need the See Jane Work faux leather portfolio to avoid the mess and keep their creative energy where they can find it.

Skip the headache this year and keep the holidays festive and fun with the Co-Worker Collection, and other exciting gifts, at an Office Depot or an OfficeMax retail store near you.

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.

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:
Sarah England
561-438-1448
sarah.england@officedepot.com

Source: Office Depot, Inc.

Posted on by

Office Depot recognized twenty-two organizations for their leadership in greener purchasing

BOCA RATON, Fla., 2016-Nov-23 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ: ODP), a leading global provider of office products, services and solutions and parent company of Office Depot and OfficeMax, today (November 21, 2016) announced that it recently recognized twenty-two organizations for their leadership in greener purchasing, including:

  • Accurate Personnel
  • Anadarko Petroleum Corporation
  • Best Buy
  • City Of San Antonio
  • City Of San Bernardino
  • County Of Berks
  • Dysart Unified School District
  • Eastman
  • General Motors
  • Spokane VA Medical Center
  • University of North Carolina at Greensboro
  • University of Redlands
  • Viacom
  • Washington State, Department of Social and Health Services (DSHS)

In addition, Eastman received the Office Depot Special Recognition for Innovations in Supply Chain Award.

“Office Depot congratulates the winners of our Ninth Annual Leadership in Greener Purchasing Awards,” said Dave Trudnowski, senior vice president of adjacency, sustainability and public sector strategy for Office Depot. “We are pleased to honor these organizations from across the country that have implemented and are actively pursuing increased sustainability through their purchasing decisions.”

Award winners were selected from among Office Depot’s largest 1,000 customers based on their high green spend percentage compared to others in their sector. Office Depot calculates green spend percentage by comparing a customer’s expenditure on products with eco-attributes such as recycled content, energy-efficiency, non-toxicity, etc., and/or ecolabels such as FSC, EPEAT, GREENGUARD, GreenSeal and EcoLogo. Customer purchases with the highest level of meaningful eco-attributes and ecolabels were given extra weight in the selection process.

“One of the unique ways Office Depot sells greener is by celebrating our customers who buy greener,” said Molly Ray, senior manager of sustainability for Office Depot. “By recognizing our customers for achieving their sustainability goals, they’ll continue to make greener purchasing decisions in the future and we believe that other organizations will follow.”

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.

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:
Rebecca Rakitin
561-438-1450
Rebecca.Rakitin@officedepot.com

Source: Office Depot, Inc.