• Thu, Jun. 29, 10:30 AM
    Thu, Jun. 29, 10:30 AM | 10 Comments
  • Thu, Jun. 22, 7:16 AM
    • Office Depot (NYSE:ODP) entered into an exclusive licensing agreement with Centriq Technology 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.”
    • “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.”
    • Press Release
    Thu, Jun. 22, 7:16 AM
  • Fri, Jun. 2, 7:34 AM
    • Office Depot (NYSE:ODP) announces that it struck a deal to sell its business in mainland China to Shanghai M&G COLIPU Office Supplies Co.
    • 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 expected to close within the next several months.
    • Deal terms weren't disclosed.
    • Source: Press Release
    Fri, Jun. 2, 7:34 AM
  • Thu, May 25, 1:39 PM
    • Staples (SPLS +3.5%) breaks higher after rejecting an offer from Cerberus Capital for being too low.
    • Sources indidate that Sycamore Partners is still in the running to acquire the retailer.
    • Peer Office Depot (ODP +1.1%) is also higher on a day the retail sector is outperforming.
    • Source: Bloomberg
    • Previously: Uplifting day in retail sector (May 25)
    Thu, May 25, 1:39 PM | 3 Comments
  • Thu, May 25, 11:10 AM
    • Retail stocks are having a good day after a round of earnings reports (BBY, GES, ANF, WSM) come in ahead of expectations. The SPDR S&P Retail ETF (NYSEARCA:XRT) is up 1.81% in morning action.
    • The rally is being led by apparel store chains and apparel makers, although plenty of other retailers are riding the coattails of earnings reporters. Notable gainers include Delta Apparel (DLA), Sequential Brands Group (SQBG +5.5%), Carter's (CRI +3.1%), Crocs (CROX +2.6%), Guess (GES +15.4%), Shoe Carnival (SCVL +9.9%), Tailored Brands (TLRD +5%), Burlington Stores (BURL +6.2%), Staples (SPLS +4.6%), Build-A-Bear Workshop (BBW +4.4%), Fred's (FRED +2.7%), Tilly's (TLYS +5.6%), Pier 1 Imports (PIR +3.9%), Sears Holdings (SHLD +27.2%), Office Depot (ODP +1.9%), J.C. Penney (JCP +3.2%) and Bon-Ton Stores (BONT +6.4%), Dollar General (DG +3.5%), Big Lots (BIG +2.2%) and Five Below (FIVE +1.7%).
    • ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR, CNDF, FTXD, JHMC
    Thu, May 25, 11:10 AM | 9 Comments
  • Tue, May 9, 9:18 AM
    Tue, May 9, 9:18 AM | 1 Comment
  • Tue, May 9, 6:57 AM
    • Office Depot (NYSE:ODP) declares $0.025/share quarterly dividend, in line with previous.
    • Forward yield 1.96%
    • Payable June 15; for shareholders of record May 25; ex-div May 23.
    Tue, May 9, 6:57 AM
  • Tue, May 9, 6:51 AM
    • Office Depot (NYSE:ODP): Q1 EPS of $0.16 beats by $0.04.
    • Revenue of $2.68B (-6.9% Y/Y) misses by $30M.
    • Press Release
    Tue, May 9, 6:51 AM | 1 Comment
  • Mon, May 8, 5:30 PM
  • Wed, Apr. 5, 7:04 AM
    • Morgan Stanley thinks a potential buyer of Staples (NASDAQ:SPLS) will seek out a merger with Office Depot (NYSE:ODP) down the road.
    • The firm sees Staples being bought out at a 20% to 30% premium to imply a $6.8B to $7.4B valuation.
    • MS rates Staples at Equalweight and assigns a price target of $10
    • Source: Bloomberg
    • Previously: Staples +14% with PE interest in the mix (April 4)
    • SPLS +3.05% premarket to $9.80.
    Wed, Apr. 5, 7:04 AM | 3 Comments
  • Thu, Mar. 23, 11:17 AM
    • Strong earnings report from Five Below and PVH seem to be swaying investors in the retail sector. The two late reporters gave a deeper look at Q1 trends than some of the earlier earnings disclosers. Investors may also be factoring in the heated battle in Congress over health care reform as an indication that the border tax proposal could face an uphill climb.
    • Today's strong move in the U.S. follows a day in the Europe where retail names are beating out all sectors in the Stoxx Europe 600.
    • Select retail gainers: Ascena Retail Group (ASNA +5.8%), Gap (GPS +3%), Buckle (BKE +6.2%), Tilly's (TLYS +3.9%), Office Depot (ODP +4.2%), Finish Line (FINL +4.5%), Stein Mart (SMRT +3.7%), Cato (CATO +4.1%) and Francesca's (FRAN +3.4%), Guess (GES +4.2%), Tuesday Morning (TUES +1.6%), Rite Aid (RAD +3.3%) and Boot Barn (BOOT +2.3%).
    • Previously: Five Below +11% as organic growth remains on track (March 23)
    • Previously: PVH up 7% as it beats in Q4, extends buyback (March 22)
    • The S&P Retail ETF (NYSEARCA:XRT) is up 1.64%.
    Thu, Mar. 23, 11:17 AM | 3 Comments
  • Mon, Mar. 20, 10:39 AM
    • Office Depot (NYSE:ODP) announced a partnership with Silverback Learning Solutions to bring districts and administrators personalized learning solutions that help foster student and educator achievement.
    • The unique partnership combines Office Depot, Inc.’s Committed to Learning initiative with Silverback Learning Solutions’ education software Milepost, Teacher Vitae and EdifyAssess, powered by Silverback Learning, which allow teachers and districts to personalize education learning plans while managing interventions and monitoring achievement.
    • “Silverback Learning Solutions’ pledge to personalized education aligns with Office Depot’s Commitment to Learning,” said Becki Schwietz, senior director of growth strategies for Office Depot, Inc. “From our perspective, it’s an innovative approach to the direction of education in the future, and we are excited to be involved.”
    • Press Release
    Mon, Mar. 20, 10:39 AM
  • Wed, Mar. 1, 12:40 PM
    Wed, Mar. 1, 12:40 PM | 2 Comments
  • Wed, Mar. 1, 7:09 AM
    • Office Depot (NYSE:ODP): Q4 EPS of $0.11 beats by $0.01.
    • Revenue of $2.73B (-1.4% Y/Y) beats by $20M.
    • Press Release
    Wed, Mar. 1, 7:09 AM
  • Wed, Mar. 1, 7:05 AM
    • Office Depot (NYSE:ODP) slips past consensus sales and profit estimates with its Q4 report.
    • Retail division sales fell slightly to $1.4B. Same-store retail sales were down 4%.
    • Gross margin came in at 24.0% of sales vs. 23.6% consensus.
    • For the full year, the company closed 123 retail stores.
    • Office Depot ended the quarter with total liquidity available of $1.8B and total debt of $387M.
    • Office Depot expects a lower level of sales this year due to store closures and continued challenging market conditions. Another 75 store closings are expected.
    Wed, Mar. 1, 7:05 AM
  • Tue, Feb. 28, 3:46 PM
    • The S&P Retail ETF (NYSEARCA:XRT) is down 2.54% after Target's shocking drop in guidance for 2017 amid a corporate reset.
    • The strategy by Target to invest in lower prices follows on a similar commitment from Wal-Mart and appears to be hanging heavy over the sector.
    • Apparel stores: Ascena Retail (ASNA -9.6%), Stage Stores (SSI -6.6%), Stein Mart (SMRT -6.5%), Buckle (BKE -2.9%), Destination XL (DXLG -4.8%).
    • Specialty retailers: Office Depot (ODP -5.7%), The Finish Line (FINL -4.5%), Barnes & Noble (BKS -4.4%), Staples (SPLS -3.9%), The Michaels Companies (MIK -3.4%).
    • Department stores: Sears Holdings (SHLD -3.1%), Dillard's (DDS -2.7%), Kohl's (KSS -3.1%), J.C. Penney (JCP -4.6%).
    • Update: Bloomberg reports that talk of a Paul Ryan-Trump administration compromise on an adjusted border tax could also be swaying investors.
    • Previously: Target -12% as margins come under pressure (Feb. 28)
    • Previously: E-commerce smash and grab ravages retail (Feb. 28)
    Tue, Feb. 28, 3:46 PM | 25 Comments