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Intro

Office Depot is an American retailing company that supplies office material and equipment. It has its headquarters in Boca Raton, Florida. It boasts of 1,378 locations and employs about 38,000 business associates in America. Its combined annual sales total to about $11 billion every year. 

History

Office Depot was started by F. Patrick Sher, Jack Kopkin, and Stephen Doughtery in 1986. The three took the following positions respectively – chairman and chief executive officer, executive vice president, and president. 

The three were previously associated with a home improvement company called Mr. HOW which was sold in 1983 by Sheer to Service Merchandise. They opened the first Office Depot store in October 1986 in Lauderdale Lakes, Florida. The company went public in 1988. 

Office Depot merged with Office Club in 1991 and expanded to the West Coast. It entered the Australian and European mail markets in 1998 after buying Viking Direct. Viking Direct opened new stores in El Salvador, Guatemala, and Coast Rica in 2001. This was done through a joint licensing agreement. 

In 2017, Office Depot sold its European business to an investment firm. In November 2013, it merged with OfficeMax after a stockholder and regulatory approval was completed. In May of the next year, the company was forced to close 400 stores due to the migration of customers to e-retailers and declining sales. 

Office Depot has tried twice to merge with Staples. The first time was in 1997 and the second time was in 2015. Both times, the Federal Trade Commission obtained federal injunctions against the merger. 

In 2017, the company bought CompuCom, a technology services firm that allowed it to rival Amazon Web Services. There was a significant drop in revenues and shares in 2019 due to the acquisition.  

Business Directions 

Office Depot’s parent company, The ODP Corporation, has a portfolio of companies that include OfficeMax, Office Depot, Ativa, Grand & Toy, Foray, TUL, DiVOGA, and Realspace. It operates over 1,400 Office Depot retail stores, e-commerce sites, and business-to-business sales organizations. 

Key Facts

Office Depot operates two LEED Gold certified retail stores. The first store was built in April 2008 in Austin, Texas and the second store is located at the company’s Boca Raton headquarters. It received the certification in September 2010. 

Office Depot became a NASCAR partner in 2005 and adopted the title “Official Office Products Partner of NASCAR.” It became the primary sponsor of Roush Fenway Racing’s Ford Fusion the same year. 

Mission and Vision

Office Depot’s goal is to become a place where customers can purchase office supplies in bulk at very low prices. The company has managed to become a multi-billion-dollar business in the industry. 

FAQ

What companies does Office Depot own? 

The ODP Corporation owns Office Depot, Grand & Toy, OfficeMax, Ativa, DiGOVA, Realspace, Foray, and TUL. 

Who is cheaper Office Depot or Staples? 

Office Depot tends to be cheaper when it comes to everyday items when compared to Staples. This is one of the reasons why Staples records better profits and revenues every year. 

Can you print at Office Depot? 

Office Depot offers Same-day Print & Copy services at its stores. Professional print associates also offer advice on printing options that best meet a customer’s needs. 

Typical Hours of Operation

Mo 9:00 - 20:00
Tu 9:00 - 20:00
We 9:00 - 20:00
Th 9:00 - 20:00
Fr 9:00 - 20:00
Sa 9:00 - 19:00
Su 10:00 - 18:00

Locations: 856 locations in 46 states and 582 cities.

Categories

  • Office Equipment & Supplies

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