Tag: Office

Office Depot and Office Max Coupons – Coupon Codes 2016 #a #business #plan

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100% of 15 recommend

These Office Depot coupons open the door to savings on virtually everything you need to boost productivity at work or school. Shoppers can browse an immense, easily searchable inventory of products that range from basic supplies, such as staplers and pencils, to more permanent ones, including office chairs and executive desks. No matter what product you need, you can bet on having abundant choices: more than 100 types of rubber bands are available, for instance, and hundreds of types of smooth-writing rollerball pens stand ready to sign important documents or cast the spells of mathemagicians. No matter what it is you need, be sure to select an Office Depot coupon for an extra discount.

The late F. Patrick Sher founded Office Depot in 1986, creating a hub of products for nearly every type of workplace. The company’s first retail store opened its doors in Fort Lauderdale, Florida, that year. Before long, students and workers across the nation were heading to Office Depot stores to find office products and school supplies. Today, the retailer continues to stock clerical necessities, as well as new products suited to ever-changing technologies. That means shoppers can find ink and toner cartridges designed to work with printers by Canon, Epson, Samsung, and other makers. In addition to providing ink and toner, Office Depot safely disposes of empty cartridges through an eco-friendly recycling program.

Anyone who’s ever worked long hours in an uncomfortable office chair or hunched over a restaurant’s hot stove knows that the workday can wreak havoc on the body. Office Depot works to keep workers healthy and comfortable with specialized furniture. Shoppers can relax into ergonomic chairs with customized backs, or stand atop antifatigue mats that cushion and support feet. Click an Office Depot coupon code for savings on these products and more.

Do you wish you could be more productive at work, more focused at school, or more organized while keeping track of each ant in your ant farm? Browse these Office Depot coupons for savings on tools that help you work better.

Office Depot and Office Max Coupon Codes Printable Coupons

About Office Depot and Office Max

These Office Depot coupons open the door to savings on virtually everything you need to boost productivity at work or school. Shoppers can browse an immense, easily searchable inventory of products that range from basic supplies, such as staplers and pencils, to more permanent ones, including office chairs and executive desks. No matter what product you need, you can bet on having abundant choices: more than 100 types of rubber bands are available, for instance, and hundreds of types of smooth-writing rollerball pens stand ready to sign important documents or cast the spells of mathemagicians. No matter what it is you need, be sure to select an Office Depot coupon for an extra discount.

The late F. Patrick Sher founded Office Depot in 1986, creating a hub of products for nearly every type of workplace. The company’s first retail store opened its doors in Fort Lauderdale, Florida, that year. Before long, students and workers across the nation were heading to Office Depot stores to find office products and school supplies. Today, the retailer continues to stock clerical necessities, as well as new products suited to ever-changing technologies. That means shoppers can find ink and toner cartridges designed to work with printers by Canon, Epson, Samsung, and other makers. In addition to providing ink and toner, Office Depot safely disposes of empty cartridges through an eco-friendly recycling program.

Anyone who’s ever worked long hours in an uncomfortable office chair or hunched over a restaurant’s hot stove knows that the workday can wreak havoc on the body. Office Depot works to keep workers healthy and comfortable with specialized furniture. Shoppers can relax into ergonomic chairs with customized backs, or stand atop antifatigue mats that cushion and support feet. Click an Office Depot coupon code for savings on these products and more.

Do you wish you could be more productive at work, more focused at school, or more organized while keeping track of each ant in your ant farm? Browse these Office Depot coupons for savings on tools that help you work better.

About Office Depot and Office Max

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How Coupons Work

How Coupons Work

When shopping other websites and stores, check out Groupon Coupons for exclusive coupon codes, free offers, and other giveaways. Here’s how it works:

Click on a coupon

When you click a coupon, a box appears with your coupon code.

Note: If no code is required, your savings will automatically appear during checkout on the retailer’s website.

Shop the retailer’s website

Click the Shop Online button to visit the retailer’s site and add items to your cart.

Paste the coupon code at checkout

During checkout on the retailer’s website, paste your code into the promo code field and complete your purchase.





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Some analysts question whether Office Depot plan will rejuvenate company – Sun Sentinel #business

#office depot business

#

Some analysts question whether Office Depot plan will rejuvenate company

Office Depot plans to close 300 more stores

Office Depot announced Wednesday plans to close 300 more stores nationwide over three years. CEO Roland Smith said the company is making good progress despite the disruption from the year-and-a-half long merger attempt with Staples.

Office Depot announced Wednesday plans to close 300 more stores nationwide over three years. CEO Roland Smith said the company is “making good progress” despite the disruption from the year-and-a-half long merger attempt with Staples.

Marcia Heroux Pounds Contact Reporter

Office Depot stock gets bounce but long-term turnaround in question

One day after Office Depot CEO Roland Smith offered his first glimpse at how he intends to turn around the Boca Raton-based retailer, some industry analysts said they were, for the most part, not wowed by the plans.

They agreed, though, Smith had done what he had to do to boost Office Depot’s fallen stock.

Jefferies analyst Daniel Binder says Office Depot’s $250 million cost-savings plan, announced Wednesday, does little to really reinvent this company.

In his report on the retailer on Thursday, Binder said a second round of store closures 300 on top of the 400 already closed is, not surprisingly, part of the the new strategic plan.

Retail analyst David Marcotte said he also was not surprised by any of Smith’s cost-cutting or future plans. However, by initiating a dividend and announcing strategies that boosted the stock, Smith made a successful move to deal with investors in a very difficult market. At the end of the day, you have to take care of investors, Marcotte said.

Office Depot’s store of the future

Randy Vazquez / Sun Sentinel

Bethany Simpson, center, helps customers at the Office Depot in Margate on Wednesday. This location offers services such as professional printing and a business pro section that is designed to cater to business owners.

Bethany Simpson, center, helps customers at the Office Depot in Margate on Wednesday. This location offers services such as professional printing and a business pro section that is designed to cater to business owners.

(Randy Vazquez / Sun Sentinel)

Office Depot stock rose 6 percent on Wednesday and closed at $3.51, up 3 cents or 0.86 percent, on Thursday. The stock has a 52-week range of $3.11 to $8.09. In May, both Office Depot and Staples’ stocks plummeted after their failed merger.

Mike Baker, analyst with Deutsche Bank Research in New York, said in a report Thursday that Office Depot has a well thought-out and reasonable plan to improve their business trends. We think they are heading in the right direction.

Still, Deutsche maintains a hold on the stock because Office Depot continues to fight market-share losses that are leading to sales and profit declines. Jefferies also rates the stock a hold rating.

Beyond cost cutting, Office Depot also is launching Business Select, a special program to better serve small businesses; increasing its product line in janitorial and break-room supplies; and further investing in education-related sales.

Office Depot and Framingham-Mass.-based Staples ended their planned merger on May 16 after an 18-month challenge by regulators. A U. S. District Court judge gave the Federal Trade Commission a preliminary injunction to block the merger and Staples and Office Depot decided not to fight it.

Moving forward, Smith said one plan is to focus on smaller format stores with special services for small businesses and a curated selection of products. Four stores of the future have been rolled out, including one at 5500 W. Sample Road in Margate, he said.

Office Depot said it would expand the new format to 24 stores this year and 100 in 2017.

Marcotte said smaller stores are cheaper to run, with less labor, and easier to close if they don’t work out. The larger format stores that Office Depot currently has are expensive to close.

In its conference call Wednesday, Office Depot said it had expected a lower transfer rate of customers than the 30 percent it saw with the 400 stores it closed as of its second quarter.

While Office Depot swung to a quarterly profit compared with 2015’s second quarter loss, the retailer saw a 6 percent sales drop to $3.2 billion, compared with $3.4 billion in the same quarter in 2015.

Marcotte said rival Staples hasn’t instituted many changes since the merger failure, except dropping Staples Connect, its proprietary smart-home and office product. He said Staples already has smaller format stores.

Staples is scheduled to announce its second-quarter earnings on Aug. 17.

Longtime Staples CEO Ron Sargent stepped down June 14. Company veteran Shira Goodman was named interim CEO while executive recruiter Korn Ferry conducts a search for a permanent successor.

Office Depot lost one of its own top executives recently. Chief legal officer Elisa Garcia resigned, effective Aug. 17. Macy’s announced her appointment as its chief legal officer.





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Small Business Assistance Office (SBAO) #business #database

#small business help

#

Minnesota.gov

Small Business Assistance Office

Our Small Business Assistance Office places a special emphasis on providing the in-depth information that is so crucial to business success yet too costly for many businessmen and women to obtain on their own.

Overview

We help reduce the expense in terms of money, time, expertise, and lost opportunity for startups and established businesses alike by offering individual consultation services along with a comprehensive series of business guidebooks.

Consultation Services

Our consultants field all kinds of inquiries, ranging from basic process questions ( What form do I need to file, where do I get it, and with whom do I file it? ) to addressing far more complex tax, regulatory, financial, managerial, business structure and other questions.

Contact one of our consultants:

Government Contracting/Procurement/Purchasing Contacts

State of Minnesota

Minnesota Department of Administration:Materials Management Division
Vendors interested in doing business with the state of Minnesota must register through the Supplier Portal, which is part of the state’s new accounting and procurement system.

Federal Government

Metropolitan Economic Development Association(MEDA)
MEDA hosts the Minnesota Procurement Technical Assistance Center (MN PTAC) that helps all Minnesota businesses pursue government procurement opportunities. MN PTAC offers specialized support for Women, Veteran, and HUB Zone businesses.

Guidebooks

Far from generic advice, our business guidebooks are written specifically for companies that will be doing business in Minnesota and operating under Minnesota laws and regulations.

Our Guide to Starting a Business in Minnesota is the most comprehensive reference of its kind and a must read for anyone contemplating the startup or purchase of an existing business.

Our other in-depth guidebooks are produced in collaboration with major Minnesota law firms and subject matter experts on such topics as employment law, Internet commerce, securities offerings, franchising, debt financing, loan documentation, and intellectual property protection.

Here are our current offerings:

An Employer’s Guide to Employment Law Issues in Minnesota (13th Edition, Spring 2016)
(A collaborative effort with the law firm of Lindquist Vennum LLP). Also available on CD.

A Legal Guide To Technology Transactions (April 2012)
(A collaborative effort with the law firm Gray Plant Mooty). Also available on CD.

A Guide to Intellectual Property Protection (13th Edition, October 2015)
(A collaborative effort with the law firm of Merchant Gould P.C.). Also available on CD.

Raising Capital: Securities Law and Business Considerations (7th Edition July 2016).
(A collaborative effort with the law firm of Fox Rothschild LLP). Also available on CD.

A Legal Guide to the Internet (7th Edition, April 2016)
(A collaborative effort with the law firm of Merchant Gould P.C.). Also available on CD.

An Introduction to Franchising (3rd Edition, January 2008)
(A collaborative effort with the law firm of Briggs and Morgan, P.A.). Available only on CD.

A Guide to Biotechnology Finance (1st Edition, August 2005)
(A collaborative effort with the law firm of Lindquist Vennum LLP). Available only on CD.

Small Business Notes Newsletter

Small Business Notes is a monthly newsletter that provides timely, accurate and useful information on topics of interest to small businesses in Minnesota.

Select the links below to view, download and print current and past issues.

June 2016
Minnesota Department of Commerce Publishes Adopted Permanent Rules Regulating MNvest Crowdfunding Securities Offerings

Small Business Prevails in Government Procurement Case Before U.S. Supreme Court

May 2016
U.S. Supreme Court to Hear Case on Separation of Functionality and Decoration for Copyright Purposes

March 2016
Will There Be A Reconsideration of State Sales Tax Collection by Out-Of-State Vendors?

February 2016
U.S. Supreme Court Hears Oral Argument on Contract Set-Aside for Veterans

January 2016
Securities and Exchange Commission Releases Report With Recommendations for Changes to Definition of Accredited Investor

December 2015
President Signs Tax Extender Bill Securities Law Changes found Deep in New Transportation Law

November 2015
U.S. Securities and Exchange Commission Issues Final Rules on Federal Crowdfunding Exemption Minnesota Department of Commerce Publishes Proposed Rules for Minnesota’s MNVest Crowdfunding Offerings

October 2015
Eighth Circuit Addresses Deference To Be Given To Administrative Agency’s Interpretation Of Its Own Rule

September 2015
New Federal E-Warranty Act Allows for Warranty Information Online

August 2015
Federal Trade Commission Action Makes for a Cautionary Tale on Donation Based Crowdfunding

July 2015
U.S. Department of Labor Indicates It Will Look at Compensability of Employee Efforts Involving Off-Schedule and Off-Premises Use of Electronic Devices

Proposed Rules Published on “White Collar Job Exemptions” to Salary and Overtime Requirements of Federal Fair Labor Standards Act

New U.S. Department of Labor Interpretation Addresses “Economic Realities” Test in Classifying Workers as Employees or Independent Contractors

June 2015
Minnesota Enacts Equity Crowdfunding Legislation. Employer Motivation Not Knowledge Is Enough To Establish A Disparate-Treatment Claim Says U.S. Supreme Court

May 2015
Recent Case Involving Minnesota Business Highlights The Need To Understand Insurance Coverage

April 2015
Small Businesses Survive But Do they Prosper? the SBA’s 2015 Small Business Profile for Minnesota

March 2015
U.S. Securities and Exchange Commission Votes to Approve Major New Regulation A + With Substantial Impact on Raising of Equity Capital

U.S. Small Business Administration (SBA) Publishes Proposed Rule to Create Expanded, All-Agency Mentor-Protege Program for Small Businesses to Develop Capacity to Seek, Obtain, and Perform on Federal Contracts

February 2015
Minnesota Court of Appeals Determines Websites and Domain Names are Property Subject to Garnishment under Minnesota Law

U.S. Small Business Administration (SBA) Publishes Call for Proposals for Early Stage Investment Companies

No Small Business Notes for January 2015





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Office of Women – s Business Ownership #business #card #ideas

#small business grants for women

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Office of Women s Business Ownership

Office of Women’s Business Ownership

Mission Statement

The Office of Women’s Business Ownership’s mission is to enable and empower women entrepreneurs through advocacy, outreach, education and support. Through the management and technical assistance provided by the WBCs, entrepreneurs, especially women who are economically or socially disadvantaged, are offered comprehensive training and counseling on a vast array of topics in many languages to help them start and grow their own businesses.

Office Spotlight

Thank you to everyone who participated in InnovateHER 2016 and congratulations to the winners and finalists! Video of the event will be posted here as soon as it is available. Women are in the workforce now more than ever, a number that is close to surpassing that of men. Gender equality is not simply about getting a woman a spot at the metaphorical table. Women have made great strides in edu.

About Our Office

Since it was established in response to an executive order in 1979, the U.S. Small Business Administration’s Office of Women’s Business Ownership has fostered the participation of women entrepreneurs in the economy, especially those who have been.

Resources





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Business Supply – Construction, Office, Medical #e #business

#business supply

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eBay Business Supply

Source the products your business needs to grow and thrive from the vast inventory on eBay Business Supply and take advantage of deep discounts on bulk purchases, as well as used and refurbished products. Whether you need tractors or skid steers for your construction business or mannequins and cash registers for your retail store, eBay is the one-stop shopping solution for all of your business needs.

Starting out in the construction industry requires an investment in heavy equipment, tools, and safety products to adhere to building codes and provide quality service. By shopping on eBay, you can reduce that outlay by purchasing used or older model products from brands such as Bobcat and John Deere. Furthermore, purchasing heavy equipment through Bidadoo grants access to finance options that help spread the cost and let your setup fund stretch farther.

In the healthcare industry, professionalism and clinical precision are paramount. Ensure you always get the best results by shopping for quality products on eBay. Search for microscopes, stethoscopes, and surgical equipment, and look out for great prices on wholesale lots of surgical gloves, masks, and other disposable products.

Manufacturing Metalworking

If you want to give your customers the best service, you need the best tools. Lathes, welding supplies, and hand tools can be expensive purchases, and shopping locally for the latest models is not the most cost-effective solution. Often, purchasing older models from last year lets you get more for your money, but finding them at stores and depots proves difficult. Fortunately, sellers on eBay Business Supply have a selection of older models that are difficult to find elsewhere, making it easy to shop on a budget for top brands such as Miller, Lincoln, and ESAB.

From front-of-house to the warehouse, the vast inventory on eBay makes it easy to find everything you need. Expand your offices with new computer chairs, desks, and laptops, or simply stock up on pens and paper. You are only a click away from countless opportunities to expand your business.

Whether your business is fine dining or fast food, sellers on eBay Business Supply have everything you need to present a clean, friendly, and professional environment for diners. Purchase a new food truck to speed up your fast food service with some meals on wheels, or find serving platters, cutlery, and flatware for your restaurant. Also browse commercial equipment such as industrial ovens, food prep surfaces, and reach-in freezers.

Retail Services

Your retail business thrives on how you present your products. Attract passing customers with advertising boards and signs, and use racking, shelves, and mannequins to display your wares attractively. When customers commit to a purchase, make the transaction sleek and professional with advanced POS computers and cash registers.





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Office Depot Coupon Codes September 2016 Discount Codes #business #current #events

#business.officedepot.com

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Office Depot Coupons September 2016

The Office Depot coupons and discount coupon code offers displayed on this page are completely free to use and may provide instant discounts on your purchases from OfficeDepot.com. Office Depot online coupons and promotions can help reduce your business costs by helping you save on office supplies, equipment, computers, technology products and other things you need to run your business.

Office Depot Coupons

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Expired: Aug 31, 2016

OfficeDepot.com

Most of the time Office Depot online coupons can be used simply by clicking our link and shopping in the window that opens. Our special link triggers a code, and the instant savings are unlocked once you reach the purchase requirements. Sometimes there is a coupon code listed, and you may have to enter the code to trigger the discount. Usually we list instant discount coupons, but some offers may be general or specific promotions and other savings may be through rebates.

Office Depot is your one-stop resource for office supplies, furniture and business technology. Log on to www.officedepot.com for an enormous selection and affordable prices. Use the site to view specials, locate a store in your area, browse and search for offerings, or order from a catalog by item number. The website boasts a Business Resource Center where you can discover expert advice, free online seminars, templates and more. OfficeDepot also offers custom printing of business cards, envelopes, checks, forms, calendars, stamps, labels, letterhead, greeting cards and more.

Office supplies offered include labels and binders; business cases; calendars; filing and storage necessities; mailroom supplies such as boxes, mailers, postal scales and packing materials; paper, forms and envelopes; pens, pencils and markers; printer and fax supplies including ink and toner; data storage (flash drives, floppy drives, CD-Rs, etc.); promotional products and business software. Office equipment is likewise available, from computers, monitors and printers to phones, copiers and fax machines. Select products from IBM, Compaq, Hewlett Packard, Gateway, Samsung, Microsoft, Avery, Sharpie and countless others.

Furnish your office from a wide assortment of armoires, bookcases, carts, stands, chairs, chairmats, floor mats, computer and desk workstations, file and storage cabinets, lamps, organizers and tables. OfficeDepot.com also retails audio visual equipment to meet your presentation needs. Find art and drafting supplies, laminating and binding equipment, message boards and signs, dry erase and chalk wall boards and multimedia and overhead projectors along with all their necessary accessories: screens, bulbs, carts, tripods and lamps.

If you run a business, you probably shop OfficeDepot.com all the time to save on office equipment, business supplies and everything else you need. You should also get in the habit of browsing this website to find great deals, online coupons and spectacular promotions to save money, fast and easy, on the Internet.

More Coupons Promo Codes:





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HEALTHY OFFICE – COLD – FLU SEASON – Office Depot Inc #register #your #business

#business.officedepot.com

#

HEALTHY OFFICE – COLD FLU SEASON – Office Depot Inc. (www.business.officedepot.com) Kimberley Mules

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Ireland appeals $14.5 billion Apple Tax ruling; Gatorade wants a piece of the organic action; And more news John C Abell

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Experienced Senior/Major/National Account Manager

HEALTHY OFFICE – COLD FLU SEASON – Office Depot Inc. (www.business.officedepot.com)

16 сент. 2015 г.

  • 96 просмотров

Along with football, cooler temperatures, and the changing of the leaves, Fall means something entirely different: the pending onset of Cold Flu Season. The timing of flu is very unpredictable and can vary in different parts of the country and from season to season. Most seasonal flu activity typically occurs between October and May. Flu activity most commonly peaks in the United States between December and February.

It’s not possible to predict what this flu season will be like. Flu seasons are unpredictable in a number of ways. While flu spreads every year, the timing, severity, and length of the season varies from one year to another. Will new flu viruses circulate this season? Flu viruses are constantly changing so it’s not unusual for new flu viruses to appear each year. For more information about how flu viruses change, visit How the Flu Virus Can Change.

Will the United States have a flu epidemic?

The United States experiences epidemics of seasonal flu each year. This time of year is called “flu season.” In the United States, flu season occurs in the winter; flu outbreaks can happen as early as October and can last as late as May. CDC says the flu season begins when certain key flu indicators (for example, levels of influenza-like illness (ILI), hospitalization and deaths) rise and remain elevated for a number of consecutive weeks. Usually ILI increases first, followed by an increase in hospitalizations, which is then followed by increases in flu-associated deaths.





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Office Depot Business Solutions Division: 10% Or More Off Everyday Purshases! #starting #your #own

#business.officedepot.com

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Office Depot

Order Online: Business.OfficeDepot.com

Go online through the Office Depot Business Solutions website everytime you order. By creating your account after using our link (here ) you will automatically be linked to our special pricing.

If you already have a purchasing account through Business.OfficeDepot.com then don’t worry, simply call (866) 226-7283 and we can have your pre-existing account linked to our special pricing!

Order By Phone

Call (888) 777-4044 and Mention Account # 52067721 and receive our special pricing over the phone.

OD Customer Service: (888) 777-4044
OD Technical Service: (800) 269-6888
BAPlus Support: (866) 226-7283

Office Depot Special Savings

Get the Keurig B140 Small Office Brewer for the great low price of $99.99. This coffee brewer is perfect for offices of 15 employees or less. It has 3 brew sizes, 48 oz. removable water reservoir, and can be setup for automatic shutoff for energy savings. Don’t forget to also order your K-Cups from Office Depot also!

Enjoy an average 10% discount on purchases including already
reduced or discounted Office Depot items!





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What s Next for Staples? Put Office Depot Out of Business #business #insurance #quote

#office depot business

#

What’s Next for Staples? Put Office Depot Out of Business

Staples (SPLS ) is pretty angry the federal government blocked its deal to buy smaller rival Office Depot (ODP ) and will now take several actions to try and put its competitor in the dirt.

U.S. District Court Judge Emmet Sullivan blocked the merger between the two companies Tuesday evening, saying the combination would create anti-competitive forces. The decision effectively ends the second attempt by the two office supplies companies to merge in an attempt to thwart off competitors including Amazon (AMZN ) .

“The Federal Trade Commission (FTC) met its burden of showing that there is a reasonable probability that the proposed merger will substantially impair competition in the sale and distribution of consumable office supplies to large business to business customers,” Sullivan wrote in a three-page order.

Obviously, execs at Office Depot and Staples saw it otherwise.

“While we are respectful of the court’s decision to grant the FTC’s request for a preliminary injunction to prevent our merger with Staples, we are disappointed by this outcome and strongly believe that a merger would have benefited all of our customers in the long term,” said Office Depot CEO Roland Smith in a statement. adding, “We do not intend to appeal the Court’s decision and the two companies plan to terminate the merger agreement effective May 16, 2016.”

Smith said the company will hold a conference call with investors on May 16 to discuss its future as a stand-alone company.

“We are extremely disappointed that the FTC’s request for preliminary injunction was granted despite the fact that it failed to define the relevant market correctly, and fell woefully short of proving its case,” said Staples Chairman and CEO Ron Sargent in a statement. Staples said it will pay Office Depot a $250 million breakup fee.

But Staples wasted no time outlining strategies that may help jump-start weak sales and profit in the wake of the merger saga ending, while at the same time stealing share from Office Depot. TheStreet takes a brief look at three things.

1. Here comes lower prices for some office supplies.

Staples said it will pursue market share gains in core categories such as office supplies, ink, toner and paper. To support this effort, the company will invest in lower prices and work to make its supply chain quicker.

2. Staples looking to divest European operations.

Staples plans to explore strategic alternatives for its struggling European operations, which is the main component of the company’s international operations. The company operates about 278 retail stores in Europe, with the largest concentration being in the United Kingdom, Germany, the Netherlands and Portugal.





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Some analysts question whether Office Depot plan will rejuvenate company – Sun Sentinel #find

#office depot business

#

Some analysts question whether Office Depot plan will rejuvenate company

Office Depot plans to close 300 more stores

Office Depot announced Wednesday plans to close 300 more stores nationwide over three years. CEO Roland Smith said the company is making good progress despite the disruption from the year-and-a-half long merger attempt with Staples.

Office Depot announced Wednesday plans to close 300 more stores nationwide over three years. CEO Roland Smith said the company is “making good progress” despite the disruption from the year-and-a-half long merger attempt with Staples.

Marcia Heroux Pounds Contact Reporter

Office Depot stock gets bounce but long-term turnaround in question

One day after Office Depot CEO Roland Smith offered his first glimpse at how he intends to turn around the Boca Raton-based retailer, some industry analysts said they were, for the most part, not wowed by the plans.

They agreed, though, Smith had done what he had to do to boost Office Depot’s fallen stock.

Jefferies analyst Daniel Binder says Office Depot’s $250 million cost-savings plan, announced Wednesday, does little to really reinvent this company.

In his report on the retailer on Thursday, Binder said a second round of store closures 300 on top of the 400 already closed is, not surprisingly, part of the the new strategic plan.

Retail analyst David Marcotte said he also was not surprised by any of Smith’s cost-cutting or future plans. However, by initiating a dividend and announcing strategies that boosted the stock, Smith made a successful move to deal with investors in a very difficult market. At the end of the day, you have to take care of investors, Marcotte said.

Office Depot’s store of the future

Randy Vazquez / Sun Sentinel

Bethany Simpson, center, helps customers at the Office Depot in Margate on Wednesday. This location offers services such as professional printing and a business pro section that is designed to cater to business owners.

Bethany Simpson, center, helps customers at the Office Depot in Margate on Wednesday. This location offers services such as professional printing and a business pro section that is designed to cater to business owners.

(Randy Vazquez / Sun Sentinel)

Office Depot stock rose 6 percent on Wednesday and closed at $3.51, up 3 cents or 0.86 percent, on Thursday. The stock has a 52-week range of $3.11 to $8.09. In May, both Office Depot and Staples’ stocks plummeted after their failed merger.

Mike Baker, analyst with Deutsche Bank Research in New York, said in a report Thursday that Office Depot has a well thought-out and reasonable plan to improve their business trends. We think they are heading in the right direction.

Still, Deutsche maintains a hold on the stock because Office Depot continues to fight market-share losses that are leading to sales and profit declines. Jefferies also rates the stock a hold rating.

Beyond cost cutting, Office Depot also is launching Business Select, a special program to better serve small businesses; increasing its product line in janitorial and break-room supplies; and further investing in education-related sales.

Office Depot and Framingham-Mass.-based Staples ended their planned merger on May 16 after an 18-month challenge by regulators. A U. S. District Court judge gave the Federal Trade Commission a preliminary injunction to block the merger and Staples and Office Depot decided not to fight it.

Moving forward, Smith said one plan is to focus on smaller format stores with special services for small businesses and a curated selection of products. Four stores of the future have been rolled out, including one at 5500 W. Sample Road in Margate, he said.

Office Depot said it would expand the new format to 24 stores this year and 100 in 2017.

Marcotte said smaller stores are cheaper to run, with less labor, and easier to close if they don’t work out. The larger format stores that Office Depot currently has are expensive to close.

In its conference call Wednesday, Office Depot said it had expected a lower transfer rate of customers than the 30 percent it saw with the 400 stores it closed as of its second quarter.

While Office Depot swung to a quarterly profit compared with 2015’s second quarter loss, the retailer saw a 6 percent sales drop to $3.2 billion, compared with $3.4 billion in the same quarter in 2015.

Marcotte said rival Staples hasn’t instituted many changes since the merger failure, except dropping Staples Connect, its proprietary smart-home and office product. He said Staples already has smaller format stores.

Staples is scheduled to announce its second-quarter earnings on Aug. 17.

Longtime Staples CEO Ron Sargent stepped down June 14. Company veteran Shira Goodman was named interim CEO while executive recruiter Korn Ferry conducts a search for a permanent successor.

Office Depot lost one of its own top executives recently. Chief legal officer Elisa Garcia resigned, effective Aug. 17. Macy’s announced her appointment as its chief legal officer.





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