Office Depot, Inc. Announces Third Quarter 2016 Results

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Go back to Office Depot, Inc. Announces Third Quarter 2016 Results

Office Depot (ODP) Tops Q3 EPS by 1c

November 2, 2016 6:51 AM EDT

Office Depot (NASDAQ: ODP) reported Q3 EPS of $0.16, $0.01 better than the analyst estimate of $0.15. Revenue for the quarter came in at $2.84 billion versus the consensus estimate of $3.49 billion.

Outlook (2)

Total company sales in the fourth quarter of 2016 are expected to be lower than 2015, primarily due to the impact of store closures, previous contract customer losses during the prolonged Staples acquisition attempt and continued challenging market conditions. However, the company expects the rate of decline to improve sequentially based on improvements in customer retention and the contract channel sales pipeline, as... More