Office Depot

retaildive | March 02, 2018

The retailer is transitioning from a supplier of office supplies to a supporter of small business with a brash 14-store test designed to serve millennial entrepreneurs. Office Depot is betting big on business, specifically other people's businesses with the introduction of a new concept: BizBox, which aims to help entrepreneurs start a business by providing the digital tools and services to start from scratch. Most entrepreneurs start business because they had a dream of some sort — to...

retaildive | March 28, 2018

Newell Brands the maker of Sharpie, Paper Mate pens and Elmer's Glue, among other products recently interrupted its shipments to Office Depot over a dispute about how the office supplies retailer was marketing its goods, the Wall Street Journal reported. The move led to a 10% sales decline in the division that makes those items, according to the report. A spokesperson for Newell Brands confirmed it had a dispute with a retailer but declined to name the company. The dispute has since be...

retaildive | August 07, 2018

Office Depot on Tuesday reported that second quarter sales rose 11% to $2.6 billion, up from $2.4 billion in the year-ago quarter. Adjusted operating income in the quarter was flat year over year at $63 million, while adjusted net income from continuing operations was $30 million, down from $34 million in the year-ago quarter, according to a company press release. The retail division reported that sales fell 5% to $1.1 billion in the quarter, including an approximate $10 million negative impact ...

retaildive | November 21, 2018

Office Depot, Inc. on Tuesday announced that it has repriced its Term Loan Credit Agreement due 2022, which entails repaying about $194 million of the outstanding term loan and bringing the outstanding balance to $500 million. The agreement will reduce the applicable interest rate margin by 175 basis points to LIBOR plus 525 basis points effective Nov. 21, according to a company press release. Along with the voluntary repayment, the reduction of applicable interest rate margin are both expected ...