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Office Depot, Inc. Small Business Index Finds Tax Refunds Will Enable Small Businesses to Invest

Thursday, March 5, 2015 10:50 am EST

Dateline:

BOCA RATON, Fla.

Public Company Information:

NASDAQ:
ODP
US6762201068
"Annual refunds enable SMBs to invest in resources such as employee salaries and technology that attract top talent and encourage growth."

BOCA RATON, Fla.--(BUSINESS WIRE)--More than half (57%) of small business owners (SMBs) say the amount of federal income tax they will pay this year is fair and will enable continued business investment, according to the latest Small Business Index conducted by Office Depot, Inc. (NASDAQ: ODP), the leading global provider of office products, services, and solutions formed by the merger of Office Depot and OfficeMax.

“Federal income tax refunds are something small business owners count on to develop their business,” said Tonya Hood, small business expert for Office Depot, Inc. “Annual refunds enable SMBs to invest in resources such as employee salaries and technology that attract top talent and encourage growth.”

The survey also looked at the current state of SMBs and the economy. Nearly half (46%) of SMBs feel that their business is currently doing well. And more than one-third (36%) are confident in the direction of the economy.

“In today’s economy SMBs are feeling confident and prepared,” said Hood. “These results point to a positive outlook for 2015 and are promising for both SMBs and the economy, including the future of office supply sales.”

According to the index, one-third (32%) of SMBs consider office supplies to be one of their top investments for 2015. Another quarter of SMBs say advertising and marketing (25%), and/or payrolls and salaries (23%) are their top investments this year. Up-to-date technology and website development were cited by a quarter of SMBs as necessary resources.

“When SMBs have certainty about the amount of taxes they will pay and don’t feel overburdened, that bodes well for all manner of business investments and the economy as a whole,” said Hood.

For more SMB resources and tax tips visit Office Depot’s Business Solutions Center at solutions.officedepot.com.

Survey Methodology/Sample Qualifications

Interviews are conducted online among a nationally representative sample of small and medium-sized businesses. The wave of interviewing was conducted from January 12 – 28, 2015 among a total of 1,500 small and medium-sized businesses. Interviewing will be conducted on a monthly basis in order to track shifts that occur over time.

About Office Depot, Inc.

Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school, or car.

Office Depot, Inc. is a resource and a catalyst to help customers work better. We are a single source for everything customers need to be more productive, including the latest technology, core office supplies, print and document services, business services, facilities products, furniture, and school essentials.

The company has annual sales of approximately $16 billion, employs approximately 56,000 associates, and serves consumers and businesses in 56 countries with more than 1,800 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – all delivered through a global network of wholly owned operations, joint ventures, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax, OfficeMax Grand & Toy, Reliable and Viking. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and HighMark.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol ODP. Additional press information can be found at: http://news.officedepot.com.

Contact:

Office Depot, Inc.
Owen Torres, 561-438-7059
owen.torres@officedepot.com