Welcome to our dedicated page for The Odp news (Ticker: ODP), a resource for investors and traders seeking the latest updates and insights on The Odp stock.
The ODP Corp (ODP) provides essential business solutions through its integrated B2B platform, serving enterprises and retail customers with office supplies, technology, and supply chain services. This page aggregates official news and press releases about ODP’s operational developments, financial performance, and strategic initiatives.
Investors and business professionals will find updates across ODP divisions including Veyer’s global supply chain management, Varis’ tech-enabled procurement marketplace, and corporate restructuring efforts. Key content includes earnings announcements, leadership changes, partnership agreements, and product/service expansions.
Bookmark this page to track ODP’s progress in transforming business procurement through its dual retail/B2B model. Check regularly for verified updates about operational milestones across its distribution network and digital platforms.
ODP Business Solutions, a division of The ODP (NASDAQ: ODP), has announced a strategic distribution partnership with Hunter Amenities to expand its presence in the hospitality industry. Through this partnership, ODP will distribute Hunter's comprehensive range of hotel and guest amenities, including liquid beauty products, soaps, and dry goods.
Hunter Amenities, a global manufacturing company with over four decades of experience in personal care and hospitality, will provide its high-end product portfolio through ODP's distribution network. The product line includes shampoo, conditioner, body wash, lotion, hand wash, and VIP indulgences such as lip balm, hand cream, and facial mist.
This partnership follows ODP Business Solutions' recent milestone contract with a leading hospitality management company and aligns with their strategy to expand into new verticals while maintaining their existing offerings in technology, professional cleaning, and furniture.
The ODP (NASDAQ:ODP) reported Q4 2024 results with revenue of $1.6 billion, down 10% year-over-year. The company posted GAAP EPS of $0.36 and adjusted EPS of $0.66.
Key Q4 metrics include:
- Operating income of $20 million
- Adjusted EBITDA of $58 million
- Operating cash flow of $34 million
Full year 2024 performance showed:
- Total sales of $7.0 billion
- Net income of $106 million
- Adjusted EBITDA of $268 million
The company announced its 'Optimize for Growth' plan, focusing on B2B expansion and reducing retail exposure. A significant milestone includes signing an agreement with a major hotel management company, entering the $16 billion hospitality industry. The company repurchased 1.4 million shares for $43 million in Q4 and maintained $644 million in total available liquidity.
The ODP (NASDAQ:ODP) has scheduled the announcement of its fourth quarter and full year 2024 financial results for Wednesday, February 26th, 2025, before the market opens. The company will host a webcast conference call with financial analysts and investors at 9:00 am Eastern Time on the same day.
The webcast will be accessible through The ODP 's Investor Relations website at investor.theodpcorp.com. A replay will be available approximately two hours after the event. The company will also make available the earnings press release, supplemental financial disclosures, and presentation materials on their website.
ODP Business Solutions, a division of The ODP (NASDAQ: ODP), has secured a new multi-year furniture contract with Region 4 Education Service Center (ESC) with potential annual revenue of up to $500M. Through OMNIA Partners, the contract enables ODP's Workspace Interiors team to provide furniture, installation, and related services to K-12 schools, higher education institutions, and local governments across the United States.
The contract offers OMNIA Partners members access to products for various environments, including breakrooms, classrooms, offices, libraries, and cafeterias. Region 4 ESC serves 48 public school districts and 43 public charter schools, representing over 1.2 million students and 111,000 educators. This marks ODP Business Solutions' fifth contract award, demonstrating their commitment to serving public sector organizations.
The ODP (NASDAQ:ODP) announced a strategic partnership with one of the world's largest hotel management organizations, positioning ODP Business Solutions as a preferred provider for Operating Supplies & Equipment (OS&E). This expansion targets the $16 billion hospitality industry, focusing on in-room hotel supply needs.
The agreement marks a significant milestone in ODP's B2B evolution beyond office supplies, allowing the company to provide bed and bath textiles, liquid beauty products, lodging kits, room technology, and in-room amenities. The hospitality sector, combined with adjacent industry segments, represents a $60 billion market opportunity for ODP Business Solutions to showcase its next-day delivery, customer service, and national supply chain coverage.
Office Depot (ODP) has announced a new business initiative with Verizon to offer telecommunications products and services through kiosks in select Office Depot and OfficeMax stores. The initial phase includes four locations in California and Illinois, with California stores launching in December 2024 and Illinois stores in early 2025.
The partnership will feature Verizon authorized agents selling products including 5G Business and Home Internet, One Talk Business Voice Over IP Solution, smartphones, watches, and tablets. The program will launch in two California locations (La Crescenta and Pasadena) and two Illinois locations (Chicago and Crystal Lake), offering customers access to market-exclusive promotions and national deals.
The ODP (NASDAQ:ODP) announced its participation in the Noble Capital Markets' Twentieth Annual Emerging Growth Equity Conference. Adam Haggard, senior vice president and interim co-chief financial officer, and Tim Perrott, vice president of investor relations and treasurer, will deliver a presentation on December 3rd, 2024 at approximately 2:30 pm (ET). Interested parties can access a replay of the presentation on the company's investor relations website, investor.theodpcorp.com, starting the following day.
Office Depot announces its Season of Savings campaign with daily online deals and weekly in-store sales. The company will offer Black Friday deals starting Thanksgiving Day online and in-store on November 29, followed by Cyber Week promotions. New partnerships include Hallmark's collection and photo services with up to 50% off on custom items. The company introduces convenient shopping options including 20-minute in-store pickup, same-day delivery, and PayPal's buy now, pay later option. Small businesses can benefit from printing and shipping discounts, while tech savings include up to $300 off select PCs and gaming equipment.
Grubhub has partnered with Office Depot to add office supplies to its marketplace, marking Office Depot as the first office supplies retailer on the platform. The partnership makes over 6,000 items available for on-demand delivery from more than 800 locations across 42 states, including laptops, printers, ink, paper products, and tech accessories. The service is integrated with Grubhub+ loyalty program, offering unlimited $0 delivery fees on eligible orders. This expansion addresses a significant market need, as over 80% of office administrators report running out of essential supplies requiring same-day replacement, and 67% prefer same-day delivery options.
The ODP (NASDAQ:ODP) has announced a transformative $1.5 billion, 10-year partnership with a major strategic reseller organization. The collaboration aims to enhance procurement efficiency and deliver customized customer experiences by combining the reseller's expertise in e-commerce solutions with ODP's extensive fulfillment centers and delivery network. The partnership will focus on providing office, furniture, print, promotional, and facility resource solutions to large multi-site companies, leveraging ODP's comprehensive product offerings and award-winning e-commerce platform.
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