Industry: RETAIL: GENERAL MERCHANDISE. Stock Advisor launched in February of 2002. To take advantage of exclusive offers like these, join Office Depot® OfficeMax® Rewards now! Office Depot, which belongs to the Zacks Retail - Miscellaneous industry, posted revenues of $2.78 billion for the quarter ended September 2019, missing the Zacks … We source and work with vendors around the globe to procure cost effect [Technical Issues] to meet the needs of our customers. This includes adjusted depreciation and amortization expense of $47 million and $51 million in the second quarter of 2020 and 2019, respectively. But obviously with BAT as well as our Maximize project that we announced. Cumulative Growth of a $10,000 Investment in Stock Advisor, Office Depot Inc (ODP) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $ODP, Why The ODP Corporation Stock Soared on Thursday, Why The ODP Corporation Stock Fell as Much as 10% on Aug. 5, Office Depot's Stock Just Jumped -- But You Won't Like the Reason Why, Why Office Depot Stock Is Having a Wild Day on Tuesday, Why Office Depot Plunged by Almost 12% on Friday, Copyright, Trademark and Patent Information. Over the next few quarters, I plan to focus my time on a few key areas. Investor Relations . During the call, we will use some non-GAAP financial measures as we describe business performance. Just maybe what are you seeing so far in back-to-school? Exhibit 99.2 CONTACTS: Tim Perrott Danny Jovic Investor Relations Media Relations 561-438-4629 561-438-1594 [email protected] [email protected] OFFICE DEPOT DECLARES QUARTERLY CASH DIVIDEND OF $0.025 PER SHARE Boca Raton, Fla., May 8, 2019 - Office Depot, Inc. (NASDAQ:ODP), a leading B2B integrated distribution company providing business services and supplies, products and Our supply chain has a unique capability to reach nearly all of our customers the next day and directly to the desktop for enterprise customers. Market Segment: Corporates. BAT cost efficiency measures and other cost reduction efforts helped to drive the year-over-year increase. Facing these tough conditions, strong execution by our team helped us mitigate some of the revenue declines and drive positive operating results on an adjusted basis. back to top. Welcome, Anthony. And with the restructuring program, how many retail stores do you expect to close? Many businesses had to pause operations, transition into remote work settings and many schools were forced to cease in-class operations and shut down early. Additionally, our continued focus on driving the low cost business model helped us deliver positive adjusted operating results while we continue to prudently manage cash, maintaining our very strong balance sheet liquidity position. For more information, visit and follow @officedepot on Facebook, Twitter and Instagram. See you at the top! I will now turn the call back over to Office Depot's CEO, Gerry Smith for any closing remarks. From basic office supplies, such as printer paper and labels, to office equipment, like file cabinets and stylish office furniture, Office Depot and OfficeMax have the office products you need to get the job done.Maintain a well-stocked office breakroom.Save on printer ink and toner to keep your office efficient and productive. You have the BAT program and cost efficiency has always been a focus but then there is the variable cost component. We'll obviously let Tim get to you with offline with some of the more specifics. Your next question will come from the line of Michael Lasser. But depending on the overall reopenings and our commercial and education clients, they're going to look to us for different products and services. LEI: 549300OI428NU7XTM839. Moving to Maximize B2B. While product revenue held its own and was down 4% compared to last year, service revenue was down 38% as copy and print services and subscription offerings were negatively impacted by the COVID-19 pandemic. Among the attributes that was extremely attractive to us was Anthony's leadership role in developing and executing ABM's long-term strategic transformation. Operating cash used in the quarter was $8 million, which included $4 million in integration costs and $16 million of restructuring costs. And I am pleased to say that trend has continued as we sit here today. Considering our recent refinancing of our credit facilities, our maturity profile is attractive with our ABL not maturing until 2025. This broad diverse channel approach is proving to be a very important asset during the unusual business environment we find ourselves in this year, providing our customers with options in helping us balance revenue performance. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Office Depot, Inc. (NASDAQ:ODP) is a leading provider of business services and supplies, products and technology solutions through its fully integrated omni-channel platform of approximately 1,400 stores, online presence, and dedicated sales professionals and technicians to small, medium and enterprise businesses. A detailed discussion of these risks and uncertainties are contained in the Company's filings with the U.S. Securities and Exchange Commission. In terms of revenue generation our increasingly diverse product portfolio and multiple routes-to-market helped us offset some of the conditions caused by the COVID pandemic. I think that you saw us -- from a merchandising perspective, we've seen tremendous growth in furniture and tech, a number of sort of printers etc.,etc. So, with that being said, you didn't reference the improvement throughout the quarter and into July. The business consists primarily of serving customers through both our contract and e-commerce channels. Sidoti. Lastly, we have a very large sales marketing presence throughout North America and has forged strong relationships with business enterprise customers creating strong brand recognition with the consumers built on a reputation for quality and service. And so, we're always -- Maximize is -- one of the primary goals of Maximize is to drive from a fixed cost model to a low-cost -- to a variable cost model that allows us that flexibility, although this is never repeated the COVID experience but we believe this has demonstrated the ability for us to pivot and successfully manage cash and cost in a very, very difficult environment. Investor Relations 561-438-4629 Or, mail to: Investor Relations The Home Depot 2455 Paces Ferry Road Atlanta, GA 30339 Having been classified as an essential business operation, our businesses remained open throughout the pandemic. Good morning, it's UBS. From basic office supplies, such as printer paper and labels, to office equipment, like file cabinets and stylish office furniture, Office Depot and OfficeMax have the office products you need to get the job done. Save on printer ink and toner to keep your office efficient and productive. Office Depot, Inc. Names Timothy J. Perrott Vice President of Investor Relations Posted on 08/06/2018 32 Office Depot, Inc. (NASDAQ:ODP), a leading omnichannel Can you maybe just -- I know you talked a little bit about improving trends throughout the quarter. Domicile: UNITED STATES. He brings a wealth of experience and expertise in the B2B space, previously leading the the finance function of -- as CFO of ABM Industries, a leading enterprise facility services company. For context, we assess whether there are indicators of impairment every quarter but traditionally perform an annual assessment of goodwill during the fourth quarter. Click here to find the right contacts for your needs. And our team has continued to win new business. Outside of back-to-school, we continue to work with our business customers to help them in any scenario when they return to work in a more normal fashion or if they remain remote. Because of this reported sales in the quarter for BSD were $1.02 billion, a decrease of 23% compared to the prior year period. For all other corporate inquiries including Customer Care issues please call The Home Depot Store Support Center at 770-433-8211, or toll free 1-800-654-0688. The immediate effects related to the COVID outbreak also impacted sales performance at CompuCom in the quarter. Clearly, this is not a business as usual situation and the effect of the outbreak, most notably impacted top line results in our BSD division. Investor Relations Home ; Company Information. Business operations and many of our customers have been impacted, along with school closures and stay-at-home orders implemented. I appreciate the warm welcome and happy to be part of the ODP family. Our network touches many customers and we will be focusing on delivering even more value for our customer base across all of our channels. If you think about the way we've approached it this year and really, commend the merchandising groups because our stocking strategy on a year-over-year basis was really to leverage more of a replacement -- replenishment model versus storage model. We're going to continue to look for new categories like we did in PPE, work-from-home, learn-from-home is all kinds of different innovations going on there. And as I highlighted earlier, our sourcing and supply chain strengths allowed us to quickly identify, initiate and launch a new product category for our business. Our balance sheet remains a source of strength and provides us flexibility as we execute our strategy and pursue growth. In addition to Anthony, we also appointed a Chief Technology Officer, Terry Leeper, who has led the technology functions at Amazon Business and Microsoft. As expected, these dynamics created revenue headwinds in each of our divisions as business volumes and consumer activity in general were lower. November 12, 2020 10:00 AM - PT. Our customers have come to depend on this for the categories such as technology products, cleaning and breakroom, workspaces and furniture, school supplies, copy and print and technology services with CompuCom, we continue to evaluate launching new products and service categories leveraging our capabilities and customer relationships. Number two, continue to drive a low cost business model. As I begin my discussion on our accomplishments for the quarter, I'd like to start off with our continued commitment to safety. Excluding these items and other items, our adjusted operating income for the second quarter was $10 million compared to $71 million in the prior year period. Let's conquer your financial goals together...faster. October 27, 2020 2:30 PM - PT. Join to Connect. I just wanted to say congratulations on the progress that's been made in terms of the corporate actions around the B2B transformation. And I think we've demonstrated that very, very successfully over the last couple of years. Looking at Slide 11, we highlight the performance of the CompuCom division. We're excited about the addition of both these leaders and look forward to their help in executing our strategy. Please state your company name then proceed with your question. Office Depot. At sales our e-commerce channel was up double-digits versus last year as business customers and consumers recognized the convenience of our online presence and supply chain capabilities to safely procure the products to help maintain their business operations. While this has created one of the most difficult business and social environments in our nation's history, our teams have risen to meet the unique challenges the situation has presented. The strength of these assets along with strong free cash flow growth and the ability to generate substantially higher EBITDA growth over time was very compelling and I believe there is a tremendous opportunity to create significant value at ODP, expand our multiple and deliver substantial long-term growth. Dependent on the pace of the reopenings, those channels may have a different mix but ultimately there is great opportunity for us to service not only the traditional back-to-school but also the school-from-home environment. We're also proud of our support for our local communities during this challenging times. I appreciate that. So we think there's an opportunity for both channels to actually pull through. Designer Brands Recognized for Commitment to Women in Leadership . And Chris, this is Anthony. Can you maybe -- trying to get at what the baseline SG&A run rate is going forward? We drove an increase in demand for essential products to support work and learn-from-home environments as well as essential cleaning products including PPE to address customers' needs posed by the pandemic. Webcast Transcript. So it's really going to be looking at the profitability and the cash flow generation by store and ensuring that we have the right line of sight and it really is going to be dependent on how effective our renegotiations were and makes it makes sense to renegotiate those leases and the terms of those leases will drive how fast we close the stores. And I think the way to look at it is we will invest in areas that are going to produce the growth. So we had a very comprehensive cost model. The Investor Relations website contains information about Baidu Inc 's business for stockholders, potential investors, and financial analysts. Investor Relations Media Relations Corporate Sustainability. And in our CompuCom division, despite the near-term impacts from COVID, which continue to the second half of the year, we believe that CompuCom is in the right place, at the right time to leverage their ability to support remote workforces to help maintain business continuity for our customers. Taking these actions in leveraging our various channels allowed us to meet our customer needs across the platform. }. Relations with shareholders; Auditors; Gender pay report; Section 430(2B) Companies Act 2006 Statement; The Gender Equality Index 2019 in France ; Technical guidance; Investor contacts ; Media > News > Corporate news; Sustainability news; Features and Blogs; Image Library > Our stores and colleagues > B&Q; Castorama; Brico Dépôt; Screwfix; Koçtaş; Logos > Logos; Our unique ranges > … We have continued the actions we took in the early stage of the outbreak to enhance the safety protocols to help protect our employees and create a safer work environment for our customers. Aside from preserving liquidity, our capital priorities will continue to focus on investing in our business to further enhance our B2B platform to pursue profitable growth and expand our distribution network and capabilities. 561-438-1594. Please state your company name then proceed with your question. This is Gerry, so I appreciate the question. As Gerry addressed earlier, CompuCom support for its customers during the pandemic has been stellar.

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