Staples recently sent the board of The ODP Corp., parent of Office Depot and OfficeMax, a letter proposing an acquisition and the recipient replied that it would proceed on its own terms, which might include a deal between the two companies covering the consumer-facing side of its business.
Staples once again is moving to purchase Office Depot, which would consolidate the office superstore channel in similar vein to what has occurred in the electronic and home furnishings specialty retail channels, where Best Buy and Bed, Bath & Beyond dominate on the national scene.
Office Depot conducted a survey of more than 1,000 remote workers on their top priorities for home office upgrades that have enhanced the work-from-home experience.
Office Depot has released the company’s 12th edition of its Diverse Supplier Catalog. The catalog highlights an assortment of more than 1,500 items ranging from paper and toner, to presentation boards, writing instruments, school supplies, furniture, technology and desk accessories, with more than 700 products also containing eco-attributes or eco-labels.
Office Depot has appointed D. Anthony Scaglione as evp/chief financial officer, effective July 20, 2020. As CFO, Scaglione will report directly to CEO Gerry Smith and be a member of the executive committee.
Office Depot has completed a previously announced feasibility review, and its board of directors approved proceeding with the implementation of a holding company reorganization.
Although comps slipped in its retail division, Office Depot posted higher earnings in the fourth quarter and fiscal year.
Negatively impacted by a decline in same-store sales and lower sales in its CompuCom division, Office Depot reported a drop in revenue in the second quarter.
The office superstore category has been a dynamic retail channel over the past few years, but, at Office Depot, Carolyn Feuer has stood out for her ability to keep the furniture business there moving forward.
In a challenge to Amazon and its business-to-business operations, Alibaba.com has opened its platform to permit companies in the United States to sell their products to millions of Alibaba.com buyers in the U.S. and around the globe, with special emphasis on B2B enterprises.
Office Depot reported a sales decline in its first quarter ended March 30, 2019, and kicked off a business acceleration program to reduce costs and improve business operations.