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: July 8, 2008
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 incorporation or organization) |
(I.R.S. Employer 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
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| 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 July 8, 2008, announcing that it expects to experience continued erosion of its sales and earnings for the second quarter of 2008.
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 July 8, 2008.
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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: July 8, 2008 | By: | /s/ Elisa D. Garcia C. | ||||||
| Elisa D Garcia C. | ||||||||
| Executive Vice President and General Counsel | ||||||||
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Exhibit Index
Exhibit 99.1.1 News release of Office Depot, Inc. issued on July 8, 2008.
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Exhibit 99.1.1
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 ISSUES SECOND QUARTER PRELIMINARY OUTLOOK
Delray Beach, Fla., July 8, 2008 – Office Depot, Inc. (NYSE:ODP), a leading global provider of office products and services, announced today that it continued to be negatively impacted by the challenging economic environment in the second quarter of 2008.
As a result of additional pressure from weakening business conditions in the second quarter, North American Retail same store sales decreased nearly 10 percent versus the prior year and total Company sales were down slightly. The Company anticipates its EBIT margin to have declined for the second quarter by 200 basis points more than the 200 to 250 basis point decline previously indicated on a year-over-year basis as sales trends worsened late in the quarter.
Office Depot said it is disappointed with these preliminary results driven by a very difficult business environment, but it continues to press ahead with the implementation of its strategic plans and margin expansion initiatives. While the Company anticipates the economic environment to be difficult over the balance of the year, it expects its profit margins to improve sequentially in the third and fourth quarters.
Office Depot is scheduled to release earnings for the second-quarter 2008 fiscal period ending June 28, on Wednesday, July 30, 2008, and host a webcast to discuss earnings at 9:00 a.m. Eastern Time.
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 observes a quiet period which commenced June 28, 2008, and extends to the date on which it releases earnings, during which period the Company does not have discussions with the investment community.
About Office Depot
Every day, Office Depot is Taking Care of Business for millions of customers around the globe. For the local corner store as well as Fortune 500 companies, Office Depot provides products and services to its customers through more than 1,600 worldwide retail stores, a dedicated sales force, top-rated catalogs and a $4.9 billion e-commerce operation. Office Depot has annual sales of approximately $15.5 billion, and employs about 49,000 associates around the world. The Company provides more office products and services to more customers in more countries than any other company, and currently sells to customers directly or through affiliates in 44 countries.
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.