Office Depot is setting college students up for the forthcoming new school year with an expanded collection of dorm and school supplies rolling out in a new partnership with Dormify.
A purveyor of dorm room decor and essentials, Dormify offers stylish furniture and dorm room needs, Office Depot noted. The retailer will offer collections from the partnership at 200 of its Office Depot and OfficeMax stores, as well as online, where Dormify and related products already appear in a back-to-college merchandise assortment, including desks, office chairs, storage products, home environment appliances and kitchen appliances.
To promote the back-to-college initiative, Office Depot is giving consumers a chance to win one of 10 $500 Office Depot OfficeMax merchandise cards to put toward a fully outfitted dorm room for the upcoming school year.
“Our partnership with Dormify allows Office Depot OfficeMax to offer more college dorm supplies through our efficient and versatile shopping and shipping options,” said Kevin Moffitt, executive vice president of ODP Corp. and president of the Office Depot division, which includes the namesake and OfficeMax stores. “We’re passionate about enabling our customers’ educational goals, and providing students with the tools to be successful is an essential part of that mission. We are proud to empower students of all ages to thrive and positively impact the world.”
The initiative follows on the launch of an Office Depot marketing campaign emphasizing its breadth of available product and a first quarter when sales declined 11% to $1.87 billion, operating include fell to $18 million from $95 million in the year-earlier period and adjusted operating income fell to $51 million from $99 million. Comparable sales decreased 10% in the Office Depot division from the year-earlier quarter, the company reported.
Company net income from continuing operations fell to $15 million, or 40 cents per diluted share, from $72 million, or $1.71 per diluted share in the quarter year over year. Adjusted for one-time events, net income from continuing operations fell to $40 million, or $1.05 per diluted share, from $75 million, or $1.78 per diluted share, in the year-prior period.
