ODP

Modal Announces $25 Million Series A to Upskill Employees in AI

Retrieved on: 
Tuesday, April 2, 2024
Organization, Shimkus, Growth, Partnership, Education, ODP, AI, IPO, Organization development, Tutoring

SAN MATEO, Calif., April 2, 2024 /PRNewswire/ -- Modal , a leading skills development platform for data and analytics professionals, today announced a $25 million Series A.

Key Points: 
  • SAN MATEO, Calif., April 2, 2024 /PRNewswire/ -- Modal , a leading skills development platform for data and analytics professionals, today announced a $25 million Series A.
  • Modal was founded by Darren Shimkus and Dennis Yang, the former President and CEO of Udemy respectively.
  • The co-founders started Modal with the intention to help employers reliably upskill their employees through personalized technical and AI skills training.
  • "The results of our partnership with Modal have been incredible," said Brett Ellerbroek, head of Casey's Analytics Center of Excellence.

The ODP Corporation Partners with Matthews South for Execution of New Share Repurchase Program

Retrieved on: 
Monday, March 4, 2024
Professional Services, Retail, Technology, Software, Specialty, Finance, Office Products, The ODP Corporation, Share repurchase, ODP, Cryptocurrency

The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of products, services, and technology solutions to businesses and consumers, today announced that it has partnered with Matthews South to assist in optimizing the initial quarterly execution of its share repurchases under its newly authorized $1 billion share repurchase program.

Key Points: 
  • The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of products, services, and technology solutions to businesses and consumers, today announced that it has partnered with Matthews South to assist in optimizing the initial quarterly execution of its share repurchases under its newly authorized $1 billion share repurchase program.
  • Matthews South is a leading capital markets advisory and software firm transforming the way public and private companies make capital markets decisions through data-driven analytics.
  • “We partnered with Matthews South to enhance the initial execution of our new share repurchase plan, which further emphasizes our commitment to our low-cost business model and capital allocation strategy,” said Tim Perrott, vice president of investor relations and treasurer of The ODP Corporation.
  • The share repurchase program may be suspended or discontinued at any time.

The ODP Corporation Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, February 28, 2024
Supply Chain Management, Online Retail, Retail, Other Retail, Specialty, Office Products, The ODP Corporation, Total, Share repurchase, ODP, Nationwide, Personal protective equipment, Tech, Small business, Smith, Growth, FILO, GAAP, Capital expenditure, PPE, OfficeMax, Capital, E-commerce, Depreciation, Video game

Operating results in the fourth quarter of 2023 included $74 million of charges, primarily related to a $68 million non-cash impairment of goodwill in its Varis business unit.

Key Points: 
  • Operating results in the fourth quarter of 2023 included $74 million of charges, primarily related to a $68 million non-cash impairment of goodwill in its Varis business unit.
  • Adjusted results for the fourth quarter of 2023 exclude charges and credits totaling $74 million as described above and the associated tax impacts.
  • Fourth quarter of 2023 adjusted EBITDA was $73 million compared to $89 million in the prior year period.
  • Adjusted Free Cash Flow(3) was $43 million in the fourth quarter of 2023, compared to $147 million in the prior year period.

The ODP Corporation to Announce Fourth Quarter and Full Year 2023 Results Wednesday, February 28, 2024

Retrieved on: 
Wednesday, February 14, 2024
Technology, Office Products, Other Retail, Specialty, Software, Hardware, Retail, Supply Chain Management, Consumer Electronics, The ODP Corporation, Webcast, ODP

The ODP Corporation (NASDAQ:ODP) (“ODP,” or the “Company”), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, will announce fourth quarter and full year 2023 financial results before the market open on Wednesday, February 28th, 2024.

Key Points: 
  • The ODP Corporation (NASDAQ:ODP) (“ODP,” or the “Company”), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, will announce fourth quarter and full year 2023 financial results before the market open on Wednesday, February 28th, 2024.
  • The ODP Corporation will webcast a call with financial analysts and investors that day at 9:00 am Eastern Time which will be accessible to the media and the general public.
  • To listen to the conference call via webcast, please visit The ODP Corporation’s Investor Relations website at investor.theodpcorp.com .
  • A copy of the earnings press release, supplemental financial disclosures and presentation will also be available on the website.

Over 60% of Retailers See Customer Satisfaction Spikes, With Costco, H-E-B, and Publix Leading the Way, ACSI Data Show

Retrieved on: 
Tuesday, January 30, 2024
Home Goods, Retail, Office Products, Other Consumer, Women, Supply Chain Management, Online Retail, Convenience Store, Discount, Variety, Catalog, Other Retail, Men, Department Stores, Supermarket, Family, Consumer, Cyber Monday, EBay, Marketing, Hobby Lobby, Pet Supplies Plus, Nike, ShopRite, CVS, Walmart, Environment, Amazon, Bath & Body Works, Michigan State University, The Home Depot, Tractor Supply Company, ODP, Apple Store, United, 3-Way, Ace Hardware, ACSI, Assistant, Ulta Beauty, American Eagle Outfitters, The ODP Corporation, Meijer, OfficeMax, University, PetSmart, Rite Aid, GameStop, Groupon

Chewy's multichannel customer support also shines, and the site is a leader in this area amid a competitive field.

Key Points: 
  • Chewy's multichannel customer support also shines, and the site is a leader in this area amid a competitive field.
  • Macy’s and Costco top general merchandise retailers, but Target has its sights fixed on the leaders
    Customer satisfaction with general merchandise retailers climbs 3% to an ACSI score of 77.
  • Customer satisfaction with specialty retailers stays pat at an ACSI score of 79.
  • This study scores six retail industries — online retailers, general merchandise retailers, specialty retailers, drugstores, supermarkets, and gas stations — as well as consumer shipping and the U.S.

Azenta Launches the BioArc™ Ultra, a Breakthrough, Automated Solution for Efficient, Eco-Friendly Ultracold Sample Management

Retrieved on: 
Friday, February 2, 2024
Laboratory automation, Security (finance), GWP, Society, Carbon, Annual report, ODP, Automation, Course, Ozone, SLAS, Electricity, Conference, 3D printing

BURLINGTON, Mass., Feb. 2, 2024 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today announced the launch of the BioArc™ Ultra (the "Ultra"), a breakthrough, automated solution for high-density, eco-friendly ultracold sample management, designed to provide a new level of performance for large-scale sample management with the potential to forever change the landscape of biorepositories.

Key Points: 
  • BURLINGTON, Mass., Feb. 2, 2024 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today announced the launch of the BioArc™ Ultra (the "Ultra"), a breakthrough, automated solution for high-density, eco-friendly ultracold sample management, designed to provide a new level of performance for large-scale sample management with the potential to forever change the landscape of biorepositories.
  • The Ultra is an innovative evolution stemming from Azenta's well-established and industry-leading automated ultracold system product range.
  • "We are proud to launch the BioArc Ultra, a breakthrough solution that offers countless economic and environmental sustainability benefits to our customers across the sample management landscape," stated Dean Montano, Senior Product Manager for Azenta's Automated Storage Solutions.
  • Azenta undertakes no obligation to update the information contained in this press release.

The ODP Corporation Provides Leadership Update

Retrieved on: 
Monday, January 29, 2024
Supply Chain Management, Professional Services, Retail, Other Professional Services, Technology, Software, Office Products, The ODP Corporation, Pleasure, OfficeMax, ODP, Growth, Management

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, following his temporary medical leave, Mr. Gerry Smith will resume his position as Chief Executive Officer (“CEO”), effective February 1, 2024.

Key Points: 
  • 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, following his temporary medical leave, Mr. Gerry Smith will resume his position as Chief Executive Officer (“CEO”), effective February 1, 2024.
  • Mr. Smith said, “I would like to thank everyone for the support they showed during my leave, and especially to Joe for stepping in and leading the Company during my absence.
  • Dr. Szymanski has served as a director of the Company and its predecessor, OfficeMax Incorporated, since 2004.
  • Mr. Vassalluzzo said, “On behalf of the Board and the Company, I would like to thank David for his long, dedicated service to ODP.

AREX Capital Issues Letter to Board of Directors of The ODP Corporation

Retrieved on: 
Monday, December 18, 2023
Appendix, Outline, Sale, Acquisition, NewCo, LP, Member, CompuCom Systems, Public expenditure, Office, The ODP Corporation, ODP, Sycamore Partners, Thought, Omnichannel, Mistake, Share repurchase, Growth, History, Management

NEW YORK, Dec. 18, 2023 (GLOBE NEWSWIRE) -- AREX Capital Management, LP, together with its affiliates, a long-term shareholder of The ODP Corporation (NYSE: ODP) (the “Company”), today issued an open letter to the Company’s Board of Directors (the “Board”).

Key Points: 
  • Dear Joseph and Members of the Board:
    AREX Capital Management, LP and its affiliates (together, “AREX” or “we”) have been shareholders of The ODP Corporation (“ODP” or the “Company”) for several years.
  • ODP’s multiple should actually be increasing as ODP Business Solutions contributes a growing portion of the Company’s EBITDA and as Veyer rapidly expands its third-party logistics business.
  • Recent history suggests that the Board understands our thinking and appreciates the need for structural change.
  • Furthermore, ODP has zero credibility with investors in making large allocations of capital into tangential business areas given its disastrous acquisition of CompuCom.

The ODP Corporation Comments on AREX Capital Letter

Retrieved on: 
Tuesday, December 19, 2023
Professional Services, Finance, The ODP Corporation, ODP, AREX

The ODP Corporation (NASDAQ:ODP) (“the Company”), a leading provider of products, services and technology solutions to businesses and consumers, noted the open letter sent to the Company by AREX Capital Management on December 18, 2023, and issued the following statement in response:

Key Points: 
  • The ODP Corporation (NASDAQ:ODP) (“the Company”), a leading provider of products, services and technology solutions to businesses and consumers, noted the open letter sent to the Company by AREX Capital Management on December 18, 2023, and issued the following statement in response:
    “We thank AREX for its input, as we welcome all shareholders’ views on the Company and the most effective way for it to realize value for our investors.
  • The Board regularly and actively evaluates the Company’s strategic plan - including its approach to capital allocation and any potential alternatives for its businesses - and will continue to do so, informed by, among other things, the views expressed by AREX or other shareholders.”

The ODP Corporation Earns Top Score in Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index for Twelfth Consecutive Year

Retrieved on: 
Thursday, December 14, 2023
LGBTQ+, Other Retail, Supply Chain Management, Office Products, Online Retail, Professional Services, Other Consumer, Specialty, DEI (Diversity, Equity and Inclusion), Retail, Consumer, The American Lawyer, The ODP Corporation, Corporate Equality Index, Rashawn, Equality, Human Rights Campaign, ODP, Equitable, CEI, Benchmarking, Partnership, Face, Gender identity, Insurance

The ODP Corporation joins the ranks of 545 major U.S. businesses that also earned top marks this year.

Key Points: 
  • The ODP Corporation joins the ranks of 545 major U.S. businesses that also earned top marks this year.
  • “The ODP Corporation is proud to be recognized as a top-scoring company 12 years in a row,” said Zoë Maloney, executive vice president and chief human resources officer for The ODP Corporation.
  • “We are committed to fostering an inclusive workplace where our associates feel safe, respected, and valued for who they are.
  • The CEI rates companies on detailed criteria falling under four central pillars:
    Non-discrimination policies across business entities;
    Equitable benefits for LGBTQ+ workers and their families;