More Losses For Office Depot Office Depot (NYSE:ODP) reported a second-quarter net loss of 1 cent per diluted share on revenue of $3.6 billion. The company earned 4 cents per share after excluding special items. Although both numbers beat the analyst expectations of 1 cent per share earnings and $3.56 billion in revenue, Office Depot provided some ominous clues on the direction of the economic downturn, and prepared for further deterioration. Office Depot's North American retail division was the main culprit in the loss for the quarter, with an operating loss of $4 million and sales down ...
Do we have room in this economy for three major office supply stores? The battle between Staples (SPLS), OfficeMax (OMX), and Office depot (ODP) remind me of several other Big Box battles past and present. Anyone remember Home Quarters? Did we really have room for more than Two (Home Depot and Lowes) big box DIY retail stores? What about the mess between Ciruit City and Ultimate Electronics competing with Best Buy?
Kmart lost to Target and Walmart...Sears might not be far behind. Barnes and Noble, Borders, and Books-A-Million is shaping up to be a good fight too. Which one of t...
Office Depot (NYSE:ODP) has run into some rather stupid problems. The allegations are that members of the Investor Relations Staff pro-actively made phone calls to sell side analysts approximately one week before the company filed an 8K warning of bad news.
The allegations continue with the proposition that as a result of these individual phone calls analysts concluded earnings will be worse than predicted. This resulted in precipitous selling activity as brokers sold ODP shares and or purchased puts. The SEC apparently is involved and the fiasco continues to unfold much like peelin...
The Big Box Battle: Dogs or Discounts?
- There has been been some great battles in recent years between big box stores. Winners like Walmart, Best Buy and losers like Kmart and Ultimate Elect...
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