Office Depot Inc
- The ODP Corporation, parent of Office Depot, said sales in the fourth quarter increased 3% to $2.1 billion and the retailer swung to a net income of $17 million from a loss of $274 million and diluted earnings per share was 38 cents compared to a loss of $5.44 in the previous year.
Sales in the full-year 2022 was flat at $8.5 billion and the retailer swung to a profit of $166 million from a loss of $208 million and diluted earnings per share was $3.37 from {$3.79) a year ago.
The company announced a new stock repurchase program of $1 billion replacing the current $600 million plan. In 2022, the company repurchased 6.4 million shares for $266 million, which included the repurchase of over 4.5 million shares for approximately $197 million in the fourth quarter,
Mar 1, 2023
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