Tuesday, May 17, 2016

Office Depot Assures Investors Staples, Amazon Won't Kill It

The first assurance by Office Depot that the future remains bright came on Monday evening, a few days after a judge blocked a deal that would have merged Staples with its smaller competitor. "Today is not about looking back, but looking forward," said Office Depot Chairman and CEO Roland Smith to kick off a call with analysts.

Smith highlighted Office Depot's lack of near-term debt maturities, solid operating cash flow generation last year, opportunities to cut more costs as part of its integration of Office Max (acquired in 2013) and the rollout of smaller store concept that has been in test to 20 locations later this year as reasons to be optimistic.. . . more

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