ODP Corp Files 10-Q: Restructuring & Financials
| Field | Detail |
|---|---|
| Company | Odp Corp |
| Form Type | 10-Q |
| Filed Date | May 7, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, restructuring, financials, retail
TL;DR
ODP Corp 10-Q filed. Restructuring costs impacting financials. Watch for Q2.
AI Summary
ODP Corp filed its 10-Q for the period ending March 29, 2025. The filing details financial performance and operational updates, including information on restructuring plans like 'Optimize for Growth' and 'Project Core', which involve severance and termination benefits. The company, formerly Office Depot Inc., is based in Boca Raton, FL, and operates in the retail sector.
Why It Matters
This filing provides insight into ODP Corp's financial health and strategic initiatives, including restructuring costs, which can impact future profitability and investor outlook.
Risk Assessment
Risk Level: medium — The filing details restructuring plans and associated costs, which can indicate operational challenges or significant strategic shifts that carry inherent risks.
Key Numbers
- 2025-03-29 — Reporting Period End Date (Quarterly filing date)
- 2025-05-07 — Filing Date (Date the 10-Q was submitted to the SEC)
- 1228 — Fiscal Year End (ODP Corp's fiscal year closes at the end of December)
Key Players & Entities
- ODP Corp (company) — Filer
- March 29, 2025 (date) — Reporting Period End Date
- Boca Raton, FL (location) — Company Headquarters
- Office Depot Inc. (company) — Former Company Name
- Optimize for Growth (event) — Restructuring Plan
- Project Core (event) — Restructuring Plan
FAQ
What were the total costs associated with the 'Optimize for Growth' and 'Project Core' restructuring plans as of March 29, 2025?
The filing indicates costs related to 'Optimize for Growth Restructuring Plan' and 'Project Core' involving 'OneTimeTerminationBenefits' and 'EmployeeSeverance' for periods ending March 30, 2024, and March 29, 2025, but specific total dollar amounts for these plans are not explicitly detailed in the provided snippet.
What is ODP Corp's primary industry classification?
ODP Corp's Standard Industrial Classification is RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940].
What are the names of ODP Corp's operating divisions mentioned in the filing?
The filing mentions operating divisions including Varis, Office Depot, ODP Business Solutions, and Veyer.
When did ODP Corp change its name from Office Depot Inc.?
The date of the name change from Office Depot Inc. to ODP Corp was July 3, 1992.
What is the company's primary business address?
The company's business address is 6600 North Military Trail, Boca Raton, FL 33496.
Filing Details
This Form 10-Q (Form 10-Q) was filed with the SEC on May 7, 2025 regarding ODP Corp.