Last $4.05 USD
Change Today +0.11 / 2.79%
Volume 10.7M
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As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

office depot inc (ODP) Key Developments

Office Depot, Inc. Appoints Juliet Johansson as Executive Vice President and Chief Strategy Officer

Office Depot, Inc. appointed Juliet Johansson as executive vice president and chief strategy officer. Johansson is a member of Office Depot's Executive Committee and reports to Roland Smith, Chairman and CEO of Office Depot, Inc. Johansson's background includes a decade of strategic advisory experience with premier firms McKinsey & Company and The Blackstone Group.

Office Depot Appoints Troy Rice as Executive Vice President of Retail

Office Depot announced the appointment of Troy Rice as Executive Vice President of Retail, effective April 14, 2014. Rice replaces Juan Guerrero and will serve as a member of Office Depot's Leadership Team reporting directly to Roland Smith, Chairman and CEO of Office Depot, Inc. He most recently served for eight years as Executive Vice President - Stores and Services at Toys"R"Us during which he was responsible for all aspects of store operations for Toys"R"Us and Babies"R"Us, including the integrated store strategy, as well as operations for FAO Schwarz and seasonal stores.

Office Depot, Inc. Names Juliet Johansson Executive Vice President and Chief Strategy Officer

Office Depot, Inc. announced the appointment of Juliet Johansson as Executive Vice President and Chief Strategy Officer, effective immediately. Johansson is a member of Office Depot's Executive Committee and reports to Roland Smith, Chairman and CEO of Office Depot, Inc. Johansson's background includes a decade of strategic advisory experience with premier firms McKinsey & Company and The Blackstone Group. During her eight year tenure with McKinsey, Johansson advised C-level executives in the retail, consumer products, fast food and high technology sectors as Associate Principal and co-leader of the Sales and Marketing Practice. From McKinsey, she joined Ryder System, where she spent five years in senior roles responsible for strategy, national sales and marketing. Most recently Johansson served as Senior Vice President, Global Commercial Business for dental implant manufacturer Biomet 3i, a company she advised during her time with Blackstone.

Office Depot, Inc. Reports Consolidated Earnings Results for the Thirteen Weeks and Fifty Two Weeks Ended December 28, 2013; Provides Earnings Guidance for the Year 2014; Reports Asset Impairments for the Fourth Quarter of 2013

Office Depot, Inc. reported consolidated earnings results for the thirteen weeks and fifty two weeks ended December 28, 2013. For the thirteen weeks, the company reported sales of USD 3,486 million compared to USD 2,623 million a year ago. Operating loss was USD 118 million compared to operating income of USD 5 million a year ago. Loss before income tax was USD 134 million compared to USD 6 million a year ago. Net loss was USD 120 million compared to USD 7 million a year ago. Net loss attributable to common stockholders was USD 144 million compared to USD 17 million a year ago. Basic and diluted loss per share was USD 0.34 compared to USD 0.06 a year ago. Adjusted operating income was USD 5 million compared to USD 26 million a year ago. Adjusted net loss attributable to common stockholders was USD 14 million or USD 0.03 per share compared to adjusted net income of USD 1 million or USD 0.00 per share a year ago. For the fifty two weeks, the company reported sales of USD 11,242 million compared to USD 10,696 million a year ago. Operating loss was USD 205 million compared to USD 31 million a year ago. Income before income tax was USD 127 million compared to loss before income tax of USD 75 million a year ago. Net loss was USD 20 million compared to USD 77 million a year ago. Net loss attributable to common stockholders was USD 93 million compared to USD 110 million a year ago. Basic and diluted loss per share was USD 0.29 compared to USD 0.39 a year ago. Net cash used in operating activities were USD 107 million compared to net cash provided by operating activities of USD 179 million a year ago. Capital expenditures were USD 137 million compared to USD 120 million a year ago. Adjusted operating income was USD 66 million compared to USD 97 million a year ago. Adjusted net loss attributable to common stockholders was USD 36 million or USD 0.11 per share compared to adjusted net income of USD 9 million or USD 0.03 per share a year ago. For 2014, market trends are expected to remain challenging across product lines and distribution channels. Consequently, Office Depot expects total company sales to be lower than 2013 pro forma combined sales. The expense deleverage from lower sales is expected to offset some of the merger synergies and operating improvements anticipated during the year. The company expects to generate adjusted operating income of not less than USD 140 million. Integration capital spending is expected to be approximately USD 200 million to USD 250 million during the 2014-2016 period. In 2014, the company anticipates capital spending will approximate USD 150 million, excluding up to an additional USD 50 million in integration expenditures. Depreciation and amortization is expected to be approximately USD 300 million. For the fourth quarter 2013, the company reported asset impairments of USD 12 million compared to USD 9 million a year ago.

Office Depot, Inc. Presents at ETail West Conference 2014, Mar-03-2014 through Mar-06-2014

Office Depot, Inc. Presents at ETail West Conference 2014, Mar-03-2014 through Mar-06-2014. Venue: JW Marriott San Antonio Hill Country Resort & Spa, San Antonio, Texas, United States. Presentation Date & Speakers: Mar-05-2014, Emery Skolfield, Sr. Director Digital Marketing & Brand Strategy, Kevin Moffitt, VP eCommerce Strategy.

 

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