Assessing Office Depot’s Top Line
In the last four quarters, Office Depot (ODP) has beaten analysts’ estimates twice and missed them twice. In the first quarter, Office Depot’s sales rose ~6% year-over-year to $2.8 billion, topping analysts’ estimate of $2.7 billion. Its business solutions sales rose 1% to $1.3 billion, driven by sales growth in adjacent categories, acquisitions, and online sales, while its retail sales fell 8.4% to $1.2 billion. Acquired in November 2017, CompuCom saw sales of $257 million in the first quarter.