Office Depot Earnings
Office Depot reported a net loss of $413 million, or $1.51 a share, in the third quarter ended Sept. 26. In the prior-year period, it reported a loss of $7 million, or 2 cents a share.
Sales were down 17 percent, to $3 billion from $3.65 billion a year ago.
Excluding charges, Boca Raton-based Office Depot (NYSE: ODP) reported a loss of $21 million, or 8 cents a share, compared to a loss of $2 million, or a penny a share, one year ago.
Top 10 Ways To Save on Office Supplies
Suprisingly the number one expense in office supplies is…..? We will tell you at the of this post.
Here are some tips you can use to cut costs in purchasing and maintaining office supplies:
Duplex or Double sided printing – where possible print on both sides of the paper. This has the potential to reduce spending on printing paper by a maximum of 50%.
Set printer preference to “low” quality – This helps to reduce the cost in ink or toner for projects that do not require high quality print outs.
Buying in Bulk – Most office supply stores will offer competitive discounted on buying in large quantities.
Online Documents – Customize your documents to be signed online where possible. This minimizes the use of paper.
Online Collaboration – Use Google Docs or Windows Live for sharing and editing files instead of printing documents.
Centralize your inventory – Take inventory of all the office supplies you have available right now and transfer them to central locations where they can be easily found. So by ensuring that there are adequate supplies in your central inventory and keep that restocked, there is less reason for members of your staff to hoard.
Learn when to buy – Office Supply Stores have peak seasons and off seasons. Usually, office supply stores will offer discounts, rebates or sales on supplies during the summer months, so try to stock up on what you need before you have to pay full price. On the other hand, paper suppliers tend to try to raise prices during the early months of the year, and if you use a lot of paper, you may avoid price increases by purchasing a year’s supply in December.
Compare Toners to Toners – Some suppliers will offer inferior goods at a slight discount. Most likely, you will not be satisfied with these goods and they will not reflect well on your business. By shopping multiple sources, you will often be able to find quality goods at the same or lower price than the inferior ones.
Recycle – You can save yourself a lot of money by recycling. Instead of tossing the used ink cartridges, take them to an ink-refilling company. You can even sell your spent cartridges.
Recycle – You can save additional money by recycling paper. Instead of tossing the junk faxes, re-use the paper for meeting notes.
Compare Office Supplies Prices – We built a free to to compare Office Depot to Office Max prices at one – all for free -
The number one expense in the business for office supplies is – Paper, then Toner or Ink
So check it out, was is the number one expense in your office for supplies?
Documents Regarding Office Depot Allegations
The documents that are available on the internet regarding David Sherwin allegations and Office Depot. We actually found the email that David sent to the president of Office Depot.
The Wheels of Justice are in Motion for Nukote & Depot
Not much to see yet – but looks like the wheels of justice are starting to roll. It looks like a little bit of legal activity is going on in Tennessee. From Justia
Does Nukote have financing lined up to come out of bankruptcy yet?
_____________________________________________________
Nukote International, Inc. v. Office Depot, Inc.
Plaintiff: Nukote International, Inc.
Defendant: Office Depot, Inc.
Case Number: 3:2009cv00921
Filed: October 2, 2009
Court: Tennessee Middle District Court
Office: Nashville Office [ Court Info ]
County: Davidson
Presiding Judge: District Judge Aleta A. Trauger
Nature of Suit: Bankruptcy – Withdrawal
Cause: 28:0157 Motion for Withdrawal of Reference
Jurisdiction: Federal Question
Jury Demanded By: None
Chalk One Up for Office Depot
Interesting press release about retracting statement about Office Depot that we found on Yahoo.
- Source: National Office Products Alliance (NOPA)
- On Monday September 28, 2009, 10:28 am EDT
The National Office Products Alliance (NOPA) is retracting a statement that it issued in a July 21 press release in which it referenced the allegation it made to the California Attorney General of ‘kickbacks’ NOPA claimed were made to U.S. Communities. NOPA acknowledges it has no knowledge of ‘kickbacks’ being paid to U.S. Communities nor does NOPA have knowledge of any investigation of U.S. Communities as an organization. It regrets that its statements may have suggested otherwise.
Accordingly, NOPA has removed the July 21 release from its website, along with testimony of one of its directors in the California legislature on August 19 that also referred to ‘kickbacks.
Our comments:
This has been an interesting run on the Office Depot Stock in the past six months. Buy on bad news and sell on good news.
And the Battle Continues – Nu-Kote & Office Depot
Nukote International, Inc. filed a lawsuit against Office Depot in Nashville’s U.S. Bankruptcy Court to tune of $217 million stating “egregious fraudulent misrepresentations and breaches of contract” in which Nukote lays the blame of their second Chapter 11 filing in the company’s history squarely on the shoulders of Office Depot.
This past May Nukote and Office Depot severed their 20 year vendor/retailer relationship despite consistent assurances from senior representatives at Office Depot that the relationship with Nukote was secure. The vendor/retailer contract was not due for renewal until July 2010. Nukote had once provided Office Depot with an estimated $85 million in product annually. In the lawsuit Nukote claims Office Depot had not paid them as consistently as they had in the past, then forced Nukote into a bidding war to keep Office Depot’s business. The delay of payments, time and money spent on the bidding war that ultimate resulted in the loss of Office Depot’s business “brought the Debtor (Nukote) to its knees” financially.
Office Depot responded to the filing in a statement which said “Nukote was significantly past due on amounts owed to Office Depot and, in fact, Office Depot still holds a significant receivable balance for Nukote. Indeed, it is not Office Depot that is indebted to Nukote, but it is Nukote that is indebted to Office Depot.”
The statement further says that Office Depot did not breach any contracts with Nukote by changing suppliers. Office Depot claims Nukote stopped shipping product and “This interruption in service caused Office Depot to experience low inventory and out-of-stocks, and ultimately required Office Depot to quickly ramp up inventory with alternate suppliers”. The response goes on to say “Office Depot intends to vigorously defend against Nukote’s allegations and monetary demands. Further, Office Depot fully intends to seek reimbursement for the amounts Nukote owes to Office Depot.”
So I say lean back, kick your feet up and watch the battle rage on in what is sure to be a lengthy fist fight in which no winner may ultimately claim victory. At least it makes for juicy office products industry gossip!
This is our opinion of what actually is happened.
Many years ago in a land far, far away Office Depot investigated their viability in the compatible toner and inkjet cartridge business. NuKote proved they were Office Depot’s solution to this notion and won the business with set contract-pricing, rebate dollars and co-op dollars. The years go by and Office Depot’s employee turn over, increasing pressure to source lower priced product coupled with shrinking margins squeeze Nukote into a no-win situation.
Fast forward to early this year: Office Depot wants their rebate dollars but NuKote doesn’t want to pay because they’ve discounted their product so far below contract prices it makes them ineligible for rebate dollars (unless they give it away for free). Office Depot says “No…!” we want our rebate dollars or we’ll take the money from our payables to you. Now Nukote is being short paid on outstanding invoices. Subsequentially Nukote starts to see the writing on the wall with their bank and the serious decline in A/R from Office Depot. Pushed to the brink, Nukote files for protection in bankruptcy court. And inside bankruptcy, Nukote files claim against Office Depot for $217 million in damages putting the blame for their second Chapter 11 filing in the history of the company squarely on the shoulders of Office Depot.
Heavens, how’d we get here! Pause and take a breath! Imagine if the top dogs of both companies sat down face to face, human being to human being and talked it out. Could things have been salvaged? Would both companies have to be in such horrendous situations today? Who knows because obviously egos got in the way. So where are we in present day? Well, there’s a full fledged dog fight happening to determine who’s responsible for who did what to who and how much its all worth. More to come as it unfolds.
So who did wrong, Office Depot or Nukote?
What is a Sticky Tool?
Why do you need one?
The purpose of a sticky tool, is a tool on your website that makes a prospect or customer come back to you site, day after day.
Office Depot Exposed, Again
Or is it corruption in the School District -
Office Depot Exposed, Again
Or is it corruption in the School District -
Office Depot Exposed, Again
Or is it corruption in the School District -
