By Emon Reiser
ODP lowered its sales guidance as slower year-over-year store traffic weighed on its top line.
The Boca Raton, Fla.-based retailer and business services company expects full-year sales of about $8 billion for 2023, adjusted from a range of $8 billion to $8.4 billion.
ODP then guided for potentially higher adjusted earnings per share, to between $5.00 and $5.30 a share, from a range of $4.50 to $5.10 a share previously.
“As we move into the second half of the year, we will maintain our disciplined approach and focus on managing operating costs, maximizing cash flow in our business, and optimizing our capital allocation plan,” Chief Financial Officer Anthony Scaglione said in a news release.
Write to Emon Reiser at [email protected]
Read the full article here
