Along With Its Turnaround Plan, 3M Needs To Evolve 2023/05/16 16:13:39 Benzinga
Like its peer, ODP Corp (NASDAQ: ODP ), the U.S. industrial conglomerate is also facing lowered sales as consumers reflect on their spending in a difficult macroeconomic environment. With an economic slowdown that is impacting its top lines and manufacturing, 3M (NYSE: MMM ) is also dealing with a corporate restructuring and lawsuits that could even cost the company its Dow Jones spot. Firing Of Recently Promoted Chief Business Officer Only a month after his promotion, longtime executive Michael Val was fired on Friday due to’’inappropriate personal conduct and violation of company policy“. Layoffs On April 25th, the diversified conglomerate announced it will be cutting 6,000 jobs across the globe as it works on lowering costs amid waning demand for electronics. At the beginning of the year, it already announced one round of layoffs that will impact 2,500 roles. With the most recent announcement, the total global workforce will be trimmed by 10%. The Restucturing Plan As 3M continues its business journey by focusing on high-growth businesses, such as EVs and home improvement, while prioritizing emerging industries such as climate technology and next-generation electronics, 3M will be diluting management layers across all business functions and geographical locations.
San Francisco Democrat Pushes To Restrict Gun Use By Security Guards 2023/05/13 21:00:00 Zero Hedge
San Francisco Democrat Pushes To Restrict Gun Use By Security Guards San Francisco Supervisor Dean Preston introduced new draft legislation earlier this week that would prevent security officers in the crime-ridden progressive metro area from using their firearms to protect property. "We must amend local law to prohibit guards from drawing weapons just to protect property," Preston tweeted on Tuesday. The Democratic Socialist''s proposal follows an incident last month when a Walgreens security guard shot and killed suspected burglar Banko Brown. Today, I’m announcing legislation to limit use of guns by security guards. We must amend local law to prohibit guards from drawing weapons just to protect property. Human life is more important than property. pic.twitter.com/A3KsOp8yTd — Dean Preston (@DeanPreston) May 9, 2023 Preston''s ridiculous push to limit the ability of security guards to use firearms while on the job attracted criticism from the world''s second-richest person, Elon Musk: "It''s bad enough already.
ODP Corporation (ODP) Q1 2023 Earnings Call Transcript 2023/05/10 18:54:04 Seeking Alpha
ODP Corporation (NASDAQ:NASDAQ:ODP) Q1 2023 Earnings Conference Call May 10, 2023 9:00 AM ETCompany ParticipantsTimothy Perrott - VP, IRDiego Scaglione - EVP & CFOGerry Smith - CEO…
ODP Corp''s Q1 Revenue Outperforms Expectations Despite Sales Decline: ''We Remain Cautiously Optimistic'' 2023/05/10 16:10:38 Benzinga
The ODP Corp (NASDAQ: ODP ) reported a first-quarter FY23 sales decline of 3.2% year-on-year to $2.108 billion, beating the consensus of $2.100 billion. The business services provider registered an adjusted EPS of $1.78, beating the analyst consensus of $1.34. The year-over-year revenue decline was due to lower sales in its Office Depot consumer division and lower traffic. However, strength in ODP Business Solutions and strong sales of core … Full story available on Benzinga.com
ODP: Q1 Earnings Insights 2023/05/10 11:05:35 Benzinga
ODP (NASDAQ: ODP ) reported its Q1 earnings results on Wednesday, May 10, 2023 at 06:50 AM. Here''s what investors need to know about the announcement. Earnings ODP beat estimated earnings by 32.84%, reporting an EPS of $1.78 versus an … Full story available on Benzinga.com
Nordstrom Closing San Francisco Stores, Citing "Deteriorating Situation" Amid Crime Crisis 2023/05/03 23:10:00 Zero Hedge
Nordstrom Closing San Francisco Stores, Citing "Deteriorating Situation" Amid Crime Crisis Stick a fork in San Francisco: the city seems to be beyond repair. After 35 years, Nordstrom is closing its downtown San Francisco stores, citing "the deteriorating situation" in the city plagued by crime and governed by mindless progressives. According to ABC7 News , the Nordstrom Rack on Market Street will close on July 1, and Nordstrom inside Westfield Mall will close in August. Jamie Nordstrom, Chief Stores Officer, sent a letter to impacted workers of both stores and explained that "the dynamics of the downtown San Francisco market have changed dramatically over the past several years , impacting customer foot traffic to our stores and our ability to operate successfully." The impending exodus of Nordstrom comes as several other retailers, such as Office Depot, The Container Store, Anthropologie, Whole Foods , and Saks Off 5th, have all recently announced store closures. The reason for the closures is that cost of operation for retailers is soaring as progressive city officials won''t address out-of-control thefts and street crime.
ODP Corporation expands relationship with Microsoft 2023/04/27 07:57:46 Seeking Alpha
ODP (ODP) notifies on Wednesday that it is expanding its longstanding relationship with Microsoft (MSFT) to include Microsoft Azure OpenAI Service advanced artificial…
Anthropologie and Office Depot join San Francisco''s retail exodus 2023/04/27 06:16:06 Daily Mail Online
The Market Street Anthropologie will be closing its doors on May 13. Office Depot, located on Third Street, will also be closing, but the closing date is unknown.
The ODP Corporation to Announce First Quarter 2023 Results Wednesday, May 10, 2023 2023/04/26 21:00:00 Wallstreet:Online
The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers will announce first quarter 2023 financial results before the market open on Wednesday, May 10, 2023. The ODP Corporation will webcast a call with financial analysts and investors that day at 9:00 am Eastern
The ODP Corporation Expands Collaboration with Microsoft to Leverage the Power of AI Technology from Microsoft Azure OpenAI Service 2023/04/26 12:30:00 Business Wire
BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, today announced that it is expanding its longstanding relationship with Microsoft to include Microsoft Azure OpenAI Service advanced artificial intelligence technology to enhance customer experience, drive operational efficiencies, and more effectively pursue growth opportunities.
Office Depot Inc. Common Stoc ODP Investment Analysis and Advice 2023/01/02 06:15:00 Stock Traders Daily
Timing Trades in Office Depot Inc. Common Stoc ODP can be Risky if you Don''t Have Discipline
Activist Vora and Office Depot Sign Revised Agreement: Changes to Board Composition, Ownership Requirements, and Agreement Term 2022/12/30 03:33:51 24/7 Wall street
HG Vora Capital Management has disclosed ownership of 10.9% of Office Depot stock.
Office Depot Inc. Common Stoc ODP Pivots Trading Plans and Risk Controls 2022/12/23 15:15:00 Stock Traders Daily
Pivot Points for Office Depot Inc. Common Stoc ODP that help investors see where to buy and sell ODP_
Snag Discounted Prices on Thousands of Chairs at Office Depot - CNET 2022/12/07 14:45:00 CNET
Who doesn''t love a good chair? You''ll find everything for your home in this sale, from office to gaming chairs.
DoorDash is laying off 6% of its staff, and it’s a warning for the entire food delivery business 2022/11/30 18:27:35 Business Insider Nederlands
CEO Tony Xu said DoorDash is laying off 1,250 people in a Wednesday memo, Bloomberg reports. The company is firing 6% of its workforce in an effort to cut back on operating expenses. In the third quarter, DoorDash logged a $308 million loss from operations. DoorDash CEO Tony Xu says the company is cutting costs by laying off 1,250 people. In a Wednesday memo first viewed by Bloomberg , Xu wrote the company was making an effort to cut back its operating expenses — coming in at $2 billion in the third quarter — and would lay off around 6% of its workforce. The layoffs impacted talent recruiters and sales trainers, as well as workers at Wolt and Bbot, two startups DoorDash recently acquired, according to DoorDash and various LinkedIn posts. "While our business continues to grow fast, given how quickly we hired, our operating expenses — if left unabated — would continue to outgrow our revenue," Xu said in the memo . "We must keep this level of discipline moving forward and act with the hunger, efficiency, and creativity of the younger startup we once were while leading with the responsibility of the market leader we''ve become." The Covid-19 pandemic served as a big boost for DoorDash and food delivery services like it.