Office Depot, Inc. (NASDAQ: ODP) reported its financial results for the quarter ended March 31, 2020, on Wednesday before the market opens. The company is temporarily suspending its share repurchases and quarterly dividend for preserving maximum liquidity and financial flexibility.
Office Depot posted a 463% jump in earnings for the first quarter of 2020 helped by improved margin performance in its CompuCom and Retail Divisions. However, the top-line declined by 2% due to fewer retail stores in service arising from the impacts of the COVID-19 outbreak.
Related to the global business disruption and uncertainty caused by the COVID-19 pandemic, the company is withdrawing its previously issued guidance for 2020.
The company expects to experience lower revenue in the near term after considering recent supply constraints for essential products and operational disruptions occurring in businesses throughout North America.
Past Performance
Most Popular
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,