Office Depot

Office Depot, Inc.
Public
Traded as NASDAQ: ODP
Industry Specialty retail
Founded October 1986 (1986-10)
Founder F. Patrick Sher
Headquarters Boca Raton, Florida, United States
Number of locations
1,912 (December 2013)[1]
Area served
North America
Key people
Roland C. Smith
(Chairman and CEO)
Stephen Hare (CFO)
Deborah A. O'Connor (CAO)
Troy Rice (EVP)
Products Office supplies, Technology, Furniture, Copy & Print, Shipping Services
Brands Office Depot, OfficeMax, Grand & Toy, Viking Direct, Ativa, TUL, Foray, Realspace, DiVOGA
Revenue Increase US$ 16.096 billion (2014)[2]
Decrease US$ -275 million (2014)[2]
Decrease US$ -354 million (2014)[2]
Total assets Decrease US$6.844 billion (2014)[2]
Total equity Decrease US$1.621 billion (2014)[2]
Number of employees
56,000 (2015)[2]
Subsidiaries OfficeMax
Grand & Toy
Viking Direct
Slogan Gear Up For Great
Website officedepot.com

Office Depot, Inc. is an American office supply retailing company headquartered in Boca Raton, Florida, United States of America. The company has combined annual sales of approximately $11.2 billion, employs about 66,000 associates, and serves consumers and businesses in 59 countries with more than 2,200 retail stores, e-commerce sites and a business-to-business sales organization. The company’s portfolio of brands includes Office Depot, OfficeMax, Grand & Toy, Viking Direct, Ativa, TUL, Foray, Realspace, and DiVOGA. [3]

It was announced February 20, 2013, that Office Depot and OfficeMax would combine in an all-stock deal.[4] On November 5, 2013, the merger was completed.[5] On February 4, 2015, it was announced that rival Staples had agreed to purchase Office Depot in a cash and stock deal worth approximately $6.3 billion. The deal will need approval from both companies' shareholders as well as governmental regulatory authorities. In December 2015, the Federal Trade Commission voted to block the merger.[6]

History

Office Depot location in Torrance, California.
Office Depot’s “Green” store in Austin, Texas.
Office Depot’s first (now closed) LEED CI store in Austin, Texas
Office Depot store located in North Lauderdale, Florida.

Office Depot was founded in October 1986 by the late F. Patrick Sher, the former chairman and chief executive officer; Stephen Dougherty, the president; and Jack Kopkin, the executive vice president.[7] All three were formerly associated with Home-owner's Warehouse, the home improvement company that Sher sold to Service Merchandise in 1983 and renamed as Mr. HOW Warehouse. The catalog showroom chain eventually sold off the Mr. HOW Warehouse units to a variety of buyers including Builders Square, the home center warehouse subsidiary of Kmart Corporation. They envisioned a warehouse-style store for office products where customers could purchase items in bulk for discounted prices. This concept led to the beginning of what is known as Office Depot, and the company opened its first store at Lakes Mall in Lauderdale Lakes, Florida in October 1986. Office Depot recently closed all of its Connecticut locations.[8]

Other events and milestones

This is a list of other events and milestones that have to do with Office Depot, Inc.[9]

Online

The domain website officedepot.com attracted at least 37 million visitors[16] annually, according to a 2008 Compete.com survey.[17]

Environmental programs

Office Depot has structured its environmental strategy around three concepts: Buying Green, Being Green, and Selling Green.[18] Initiatives supporting this strategy include the following below:

Buying Green

Being Green

Selling Green

Sponsorships

In 2005, Office Depot became known as the “Official Office Products Partner of NASCAR”, a title that the company continues to hold to this day.[27] Also in 2005, Office Depot signed on as the primary sponsor of the #99 Ford Fusion, owned by Roush Fenway Racing and previously driven by Carl Edwards. They sponsored Edwards until the end of the 2008 NASCAR Sprint Cup Series season. In 2008, Office Depot announced that it would become the co-primary sponsor for Tony Stewart and the No. 14 Chevrolet at Stewart-Haas Racing in 2009.[28] In September 2012, Office Depot announced it would not renew sponsorship with Tony Stewart or Stewart-Haas Racing.[29]

In 2012, Office Depot partnered with the Born This Way Foundation, which was started by Lady Gaga to sell limited edition office supplies and give 25% (1/4) of the money earned to the organization.[30][31]

See also

References

  1. "Office Depot to close at least 400 stores". CNNfn. 2014-05-06. Retrieved 2014-05-06.
  2. 1 2 3 4 5 6 Office Depot, Inc. Form 10-K, Securities and Exchange Commission, February 25, 2014
  3. Reyes, Robin (17 March 2016). "Office Depot Adds More Than 4% – Amazon Eyeing Office Depot’s Corporate Business, Which Could Help Clear Staples Merger". Sonoran Weekly Review. Retrieved 17 March 2016.
  4. 1 2 "Office Depot, OfficeMax to Merge to Compete With Staples". Bloomberg. Retrieved 20 February 2013.
  5. Dhanya Skariachan (5 November 2013). "Office Depot closes deal to buy OfficeMax". Reuters.
  6. Kosman, Josh. "FTC votes to block Staples merger with Office Depot". New York Post. Retrieved 8 December 2015.
  7. "Office Depot, Inc. - Company History". Funding Universe. 2012. Retrieved 2010-02-26.
  8. FundingUniverse.com, "Office Depot, Inc. - Company History," , Retrieved 2010-02-26.
  9. Idea Group Publishing, "Office Depot's E-Commerce Evolution," , Retrieved 2009-11-05.
  10. CNNMoney.com, "Diversified dollars: 7 corporate programs," , Retrieved 2009-11-05.
  11. internetretailer.com, "Office Depot to acquire Computers4Sure.com and Solutions4Sure.com," , Retrieved 2009-11-05.
  12. BusinessWeek.com, "Steve Odland, Executive Profile and Biography." , Retrieved 2009-11-05.
  13. "Office Depot to close 400 US stores, posts loss". CNBC. 2014-05-06. Retrieved 2014-05-06.
  14. "Office Depot and OfficeMax Complete Merger". news.officedepot.com/. Retrieved 6 November 2014.
  15. Kosman, Josh. "http://nypost.com/2016/01/11/ftc-has-no-interest-in-allowing-staples-acquisition-of-office-depot/". New York Post. New York Post. Retrieved 14 January 2016. External link in |title= (help)
  16. "officedepot.com 4,843,127 UVs for October 2011 | Compete". Siteanalytics.compete.com. Retrieved 2011-11-29.
  17. Compete.com, Site Profile for officedepot.com, , Retrieved 2009-10-26.
  18. officedepot.cc, "Office Depot - Buying Green, Being Green and Selling Green," , Retrieved 2010-07-27.
  19. exceldryer.com, "Excel Dryer | Hand Dryers | Case Study: Office Depot," , Retrieved 2010-07-27.
  20. EnvironmentalLeader.com, "Office Depot Launches Green Product Line," , Retrieved 2010-07-27
  21. GreenMomentum.com, "Office Depot receives LEED Gold Certification," , Retrieved 2010-07-27
  22. BSIGroup.com, "BSI British Standards recognizes environment champions in ISO 14001 Awards," , Retrieved 2010-07-27
  23. BusinessLeader.com, "Office Depot Wins Environmental Leadership Award - Leader Profiles - SouthFloridaNewsWire.com," , Retrieved 2010-07-27
  24. worldinteriordesignnetwork.com, "Office Depot’s Florida HQ gets LEED-Gold certification," , Retrieved 2010-10-18
  25. 1 2 USChamber.com, "Business Civic Leadership Center - Earth Day 2010," , Retrieved 2010-07-27
  26. "Buy Green Office Products and Supplies at Office Depot". Officedepot.com. 2011-11-17. Retrieved 2011-11-29.
  27. NASCARPartners.com, Power - NASCAR Partners, , Retrieved 2009-12-15.
  28. stewart-haas-racing.com, Sponsors 2009, , Retrieved 2009-12-15.
  29. "Tony Stewart loses Office Depot as primary sponsor". USA Today. Retrieved 29 May 2015.
  30. "Lady Gaga's Born This Way Foundation Partners With Office Depot - ARTISTdirect News". Artistdirect.com. Retrieved 2012-11-18.
  31. "MTV Style | Born This Way Foundation Sells Bravery Bracelets At Office Depot". Style.mtv.com. 2012-07-16. Retrieved 2012-11-18.

External links

Wikimedia Commons has media related to Office Depot.
This article is issued from Wikipedia - version of the Friday, April 15, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.