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Briefcase

Turnaround at Office Depot

| Andrea Richard
While the stock market generally was in turmoil during November, shares of once-beleaguered Office Depot were up 26.2 percent, according to S&P Global Market Intelligence. The company announced quarterly results that beat expectations and said it would buy back $100 million of its stock and reduce debt. “We’re making excellent progress on our strategy, and we have again delivered strong top line growth and generated significant free cash flow,” said CEO Gerry Smith.

While the stock market generally was in turmoil during November, shares of once-beleaguered Office Depot were up 26.2 percent, according to S&P Global Market Intelligence. The company announced quarterly results that beat expectations and said it would buy back $100 million of its stock and reduce debt. “We’re making excellent progress on our strategy, and we have again delivered strong top line growth and generated significant free cash flow,” said CEO Gerry Smith.

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