Office Depot (ODP) Misses Q2 EPS by 3c; Announces Cost Savings Program; Initiates Dividend, Hikes Stock Buyback
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Office Depot, Inc. Announces Second Quarter 2016 Results
August 3, 2016 6:50 AM EDTAnnounces Debt Retirement, Initiation of Quarterly Dividend, Expanded Share Repurchase Plan
Identifies Initiatives for Future Growth
Expands U.S. Retail Optimization and Store of the Future Plan
Launches $250 Million Cost Savings Program
BOCA RATON, Fla.--(BUSINESS WIRE)-- Office Depot, Inc. (Office Depot, or the company) (NASDAQ: ODP), a leading global provider of office products, services, and solutions, today announced results for the second quarter ended June 25, 2016.
We are making good progress rebuilding our sales pipeline and moving our overall... More
Office Depot Announces Redemption of 9.75% Senior Secured Notes Due 2019
August 3, 2016 6:50 AM EDTBOCA RATON, Fla.--(BUSINESS WIRE)-- Office Depot, Inc. (NASDAQ: ODP) today announced it intends to call its 9.75% Senior Secured Notes due 2019 (the Notes) for redemption on September 15, 2016. The Notes will be redeemed for cash at a price equal to 104.875% of the principal amount of the Notes plus accrued and unpaid interest up to, but excluding, the redemption date (the Redemption Price). The aggregate principal outstanding of the Notes is $250,000,000.
From the redemption date forward, the Notes will no longer be deemed outstanding, interest will no longer accrue and holders will have no... More
