The company closed 75 other stores nationwide in the past year.
Reported sales for the ODP Corporation were $1.1 billion in the third quarter of 2022 — an 8% dip in contrast to the previous year, which the company partially attributed to the aforementioned closures as well as a decrease in product demand.
In August, the company also announced plans to lease a portion of its office headquarters in Boca Raton, Florida. to provide “greater flexibility” and “lower annual operating costs,” according to a statement from the company. “I’m excited about this opportunity and our commitment to maintaining Boca Raton as our headquarters and base of operations while continuing to embrace our low-cost flexible business model,” Gerry Smith, chief executive officer for The ODP Corporation, said in the statement. “This is another example of how we are committed to leveraging our assets in the best way possible, enhancing our balance sheet and identifying smart ways to drive The ODP Corporation’s long-term growth and success.
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