May 30, 2024

Press release

Office Depot Parent ODP Cuts FY23 Revenue Guidance Amid Challenging Macro Environment: Here's Details

The ODP Corp (NASDAQ: ODP) reported a Q3 FY23 sales decline of 8% Y/Y to $2.01 billion, missing the consensus of $2.04 billion.

The year-over-year revenue decline was due to lower sales in its Office Depot consumer division, primarily due to 71 fewer retail locations in service versus the prior year and lower retail and online consumer traffic and transactions. 

ODP Business Solutions Division reported sales of $1.0 billion, down 3% Y/Y. Office ...

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