Office Depot is on stock exchange

Office Depot is on stock exchange

World August 9, 2017 19:18

- Office Depot, wholesaler in office supplies, lost Wednesday 23% on the stock exchange after poorly received quarterly results.

Its operating profit fell on an annualized basis, net profit came to $ 24 against last year's $ 210 million and revenue (-6%) also declined. Last year, Office Depot competed Staples in vain for $ 6.3 billion.

Outlook for Office Depot for the whole year is worse than expected, with a free cash flow of $ 300 million. Webstore Amazon is moving in its market.

There will be more stores this year. The company is experiencing the transition from paper to web products. Office Depot invests another $ 150 million in the modernization of the group, according to topman Gerry Smith.

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