The Odp Corp Stock Price, News & Analysis

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.

The ODP reported third quarter 2024 results with total revenue of $1.8 billion, down 11% year-over-year. The company posted GAAP EPS of $2.04 and adjusted EPS of $0.71. Performance was impacted by challenging macroeconomic conditions and lower sales across divisions. The Office Depot Division saw reduced traffic and operated with 53 fewer retail locations, while ODP Business Solutions experienced cautious business spending.

Notable developments include securing a major B2B contract potentially worth up to $1.5 billion over 10 years and completing the Varis sale. The company repurchased approximately $295 million of shares year-to-date and updated its 2024 guidance to approximately $7 billion in sales and adjusted EBITDA of $260-300 million.

ODP Business Solutions has renewed its sponsorship of Disney Institute Professional Development Courses for 2024-2025 at Walt Disney World and Disneyland resorts. The partnership focuses on courses in leadership excellence, employee engagement, and quality service. ODP's Workspace Interiors team helped create Disney Institute's new dedicated learning space, providing space planning, design, and project management services. The innovative classroom features cutting-edge technology and was designed to accommodate various learning styles, demonstrating ODP's commitment to business growth and continuing education through Disney's curriculum.

The ODP (NASDAQ:ODP) has scheduled its third quarter 2024 financial results announcement for Wednesday, November 6th, 2024, before market open. 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 ODP's Investor Relations website, with a replay available approximately two hours after the event. Earnings press release, supplemental financial disclosures, and presentation materials will also be made available on the website.