Amazon same- and next-day deliveries hits new record

The ODP Corporation confirmed that its Board of Directors has received a proposal from USR Parent, Inc., the parent company of Staples and a portfolio company of Sycamore Partners, to acquire the Company’s consumer business for $1 billion in cash. ODP’s Board of Directors is carefully reviewing Staples’ proposal with the assistance of its financial and legal advisors to determine the course of action that it believes is in the best interests of the Company and its shareholders. No action is required by the Company’s shareholders at this time. Last month, the Company announced a plan to separate into two independent, publicly-traded companies, each with a unique and highly focused strategy and investment profile.

**Net sales increased 9% to $127.4 billion in the first quarter, compared with $116.4 billion in first quarter 2022. Excluding the $2.4 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with first quarter 2022. *North America segment sales increased 11% year-over-year to $76.9 billion. *International segment sales increased 1% year-over-year to $29.1 billion, or increased 9% excluding changes in foreign exchange rates. *AWS segment sales increased 16% year-over-year to $21.4 billion. **Operating income increased to $4.8 billion in the first quarter, compared with $3.7 billion in first quarter 2022. First quarter 2023 operating income includes approximately $0.5 billion of charges related to estimated severance costs. *North America segment operating income was $0.9 billion, compared with operating loss of $1.6 billion in first quarter 2022. *International segment operating loss was $1.2 billion, compared with operating loss of $1.3 billion in first quarter 2022. *AWS segment operating income was $5.1 billion, compared with operating income of $6.5 billion in first quarter 2022.

Barnes & Noble, Inc. announced that it donated $450,000 worth of products to the Marine Toys for Tots Foundation in both New York City and Reno, NV, to go to underprivileged families. The combined donation includes a handpicked selection of books, puzzles, plush toys, board games, electronic games, infant toys and many more fun and educational toys and games. “Barnes & Noble has always been committed to the communities it serves, and this year we’re proud to announce our significant donation to the Toys for Tots Foundation,” said Demos Parneros, Chief Executive Officer at Barnes & Noble, Inc. “The holiday season can be a tough time for families in need and we sincerely hope that this donation makes the holidays a little happier for those who need help.” Click Read More below for additional information.