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
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%
