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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: December 12, 2007

Commission file number 1-10948

OFFICE DEPOT, INC.

(Exact name of registrant as specified in its charter)

Delaware
  
59-2663954
(State or other jurisdiction of
  
(I.R.S. Employer
incorporation or organization)
  
Identification No.)

2200 Old Germantown Road, Delray Beach, Florida
33445
 
 
(Address of principal executive offices)
(Zip Code)

(561) 438-4800

(Registrant’s telephone number, including area code)

Former name or former address, if changed since last report: N/A
 
 
 
 

ITEM 7.01.    REGULATION FD DISCLOSURE

Attached hereto as Exhibit 99.1.1 and incorporated by reference herein is Office Depot, Inc.’s news release dated December 12, 2007, announcing that it expects to experience continued erosion of its sales and earnings for the fourth quarter of 2007.

This information is furnished pursuant to Item 7.01 of Form 8-K. The information in this report shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.

ITEM 9.01.    FINANCIAL STATEMENTS AND EXHIBITS

Exhibit 99.1.1        News release of Office Depot, Inc. issued on December 12, 2007.
 
 
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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
  OFFICE DEPOT, INC.
   
Date: December 12, 2007 By: /S/ Elisa C. Garcia D.
   
 
Elisa C. Garcia D.
Executive Vice President and General Counsel
 
 
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From:Mail-Announcements
Sent:Wednesday, December 12, 2007 8:19 AM
To:All EMail Users
Subject:Office Depot Sees Impact from Continued Economic Weakness
 
 
CONTACTS:
 
Brian Turcotte
Investor Relations
561-438-3657
Brian.Turcotte@officedepot.com
 
 
Brian Levine
Public Relations
561-438-2895
Brian.Levine@officedepot.com 
 
 
Office Depot sees Impact from continued economic weakness
 
 
Delray Beach, Fla., December 12, 2007– Office Depot, Inc. (NYSE:ODP), a leading global provider of office products and services, projects continued erosion of sales and earnings in the fourth quarter of 2007. As previously reported, the Company’s results for the third quarter of 2007 were negatively impacted by difficult housing-related economic conditions in certain of its key markets, particularly Florida and California, which accounted for 28 percent of North American sales in that period. This weakness appears to be spreading to other U.S. retail markets, creating additional pressure on sales and margins. Further, since inventory purchases are down due to lower sales and disciplined inventory management, fourth quarter vendor program support levels are currently expected to be about $70 million lower than last year.
 
Diluted earnings per share for the third quarter of 2007 totaled $0.43, including a tax benefit and the reversal of a bonus accrual totaling $0.17 per share. Similar benefits will not contribute to fourth quarter earnings.
 
The latest investor presentation can be found at http://investor.officedepot.com. 
 
Office Depot will release fourth-quarter earnings for the fiscal period ending December 29, 2007 on Tuesday, February 26, 2008. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) on Tuesday, February 26, 2008.
 
To listen via webcast, please visit Office Depot’s Investor Relations Web site at http://investor.officedepot.com. A replay of the webcast and a copy of the presentation will also be available on the website.
 
Office Depot will observe a quiet period commencing December 28, 2007, and extending to the date on which it will release its earnings, February 26, 2008, during which the Company cannot have discussions with the investment community.
 
About Office Depot
 
Office Depot provides more office products and services to more customers in more countries than any other company.
 
Incorporated in 1986 and headquartered in Delray Beach, Fla., Office Depot has annual sales of approximately $15.5 billion, and employs approximately 52,000 associates around the world. Currently, the Company sells to customers directly or through affiliates in 43 countries.
 
Office Depot is a leader in every distribution channel -- from retail stores and contract delivery to catalogs and e-commerce. As of September 29, 2007, Office Depot had 1,212 retail stores in North America and another 384 stores, either company-owned, licensed or franchised, in other parts of the world. Office Depot serves a wide range of customers through a dedicated sales force, telephone account managers, direct mail offerings, and multiple web sites. With $4.8 billion in online sales during the last twelve months, the Company is also one of the world’s largest e-commerce retailers.
 
Office Depot’s common stock is listed on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index. Additional press information can be found at: http://mediarelations.officedepot.com.