The ODP Corporation (ODP) 8-K Regulation FD Disclosure

Goldman Sachs 17th Annual Global

Retailing Conference

Steve Odland –

Chairman and CEO

Kevin Peters –

President, North American Retail

September 14, 2010

Exhibit 99.1

2

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2

4

6

8

10

12

14

16

18

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Office Depot Sales Growth (1986 –

2009)

Company grew organically and through more than 30 acquisitions,

mergers, joint ventures, and licensing and franchise agreements

Company founded with the opening of

first retail store on October 1986 in

Fort Lauderdale, Florida

3

•

Office Depot is a leading global provider of office products and

services

•

2009 sales of $12.1 billion

–

Supplies: 66% of sales

–

Technology: 22% of sales

–

Furniture and Other: 12% of Sales

•

Multi-channel –

stores, catalog, Internet and contract serve business customers

of

any size, from small home office to Fortune 500 accounts

–

58% of 2009 sales were not in North American Retail

–

One of the world’s largest e-commerce retailers –

$4.1 billion in sales in 2009

•

1,152 stores* in U.S. and

Canada

•

Largest concentration of

stores in California, Texas

and Florida

*As of June 26, 2010

•

Catalog, contract and e-

commerce

•

Dedicated sales force works

with medium sized to large

customers

•

Orders serviced through 15

distribution centers*

International                      

(29% of 2009 Sales)

•

Catalog, contract, e-commerce

and retail

•

Sell to customers directly and

through affiliates in 51

countries* outside of the U.S.

and Canada

•

40+ websites and 400+ stores

Office Depot –

Company Overview

North American BSD         

(29% of 2009 Sales)

North American Retail

(42% of 2009 Sales)

4

Making Progress in Key Businesses

North American Retail Division stores are well

merchandised and look great; improved product

margins over the last eight consecutive quarters

North American Business Solutions Division’s

Direct business is doing better.  Greatest

opportunity remains in North American Contract

International Division improved operating margins

for the past four quarters; business in the U.K.,

France and Germany continue to improve

North American Retail, North American Direct and International are

executing well, growing margins and close to returning to sales growth

5

U.S. Communities

•

Office Depot did not bid on the

U.S. Communities 2011 office

supplies contract

–

Contract contains terms that are

problematic

–

Performing under these terms

could negatively impact the

company’s profitability

•

Aggressively working to retain our 13,000+ customers; we

believe we can keep a significant amount of the business

•

We are currently negotiating with other national consortiums

to provide our customers with multiple buying co-op choices

6

Improving Financial Metrics

-

500

1,000

1,500

2,000

Q1'08

Q3'08

Q1'09

Q3'09

Q1'10

28.0%

25.9%

28.5%

27.1%

28.4%

28.0%

29.7%

28.4%

24.0%

26.0%

28.0%

30.0%

32.0%

Q3'08

Q4'08

Q1'09

Q2'09

Q3'09

Q4'09

Q1'10

Q2'10

•

Fourth consecutive quarter of

year-over-year gross margin

improvement

•

Reduced inventories using better

inventory management

•

DSO improvement from better

receivable collections

1

Non-GAAP numbers.  A reconciliation of GAAP to non-GAAP numbers can be found on the Office Depot web site at www.officedepot.com

Q1'09

Q2'09

Q3'09

Q4'09

Q1'10

Q2'10

7

Business Process Improvement

•

Created a Business Process

Improvement (BPI) organization

•

Extensive Lean and Six Sigma

experience

•

Mission to drive a culture of superior

execution that accelerates customer

and shareholder value

•

Currently identified $80 million of cost savings opportunities from

indirect spend reductions, finance process improvements and IT

integration

•

Identified working capital reduction opportunities of about $50 million 

•

Targeting a $100 million cost savings annual run rate by late 2013

8

U.S. Office Supplies Demand Tracks Economic Metrics

Current Status

Metric

Decreased to 88.1% in July 2010

Small business optimism index

Increased slightly to 53.5% in August

2010

Consumer confidence

Increased slightly to 9.6% in August 2010

Unemployment level

Decreased slightly to 9.9% in Q2 2010

Mortgage default rates

Decreased to annual rate of 559,000 units

in July 2010

Housing market (building permits)

Office Depot’s U.S. business tracks closely with a number of economic

metrics including housing, mortgage default rates, unemployment,

consumer sentiment and small business optimism.

9

North American Retail

•

Positioned business to take

advantage of a U.S. economic

recovery

•

Closed 120 underperforming

stores between late 2008 and

early 2009 as part of the

Company’s restructuring

•

Currently operate 1,152 retail

stores

*

in North America

•

Highest concentration of stores in Sunbelt, particularly Florida, California

and Texas; we have seen some improvement in these states though

California still faces challenges

•

Best

performing

geographic

regions

continue

to

be

the

Northeast

and

Midwest

*As of the end of the second quarter 2010

10

Back-to-School Season

•

Launched new Back-To-School

campaign called “Go Back Smarter”

targeting both parents and teachers

•

Achieved slightly positive comp sales

through August quarter-to-date

•

School supplies and technology

performed well with improved

attachment rates for laptops

11

North American Retail Key Initiatives

Implementing initiatives

to drive sales:

•

Offering exciting new

assortment in technology

•

Increasing brand

awareness using direct

mail and broadcast media

•

Nationwide rollout of U.S.

Postal Service offerings in

our retail stores

•

Increased marketing of

Copy and Print Depot and

Tech Depot services

12

North American Retail Key Initiatives

Implementing initiatives to drive

productivity and reduce costs:

•

New point-of-sale system to

provide

customer recognition,

including Worklife

Rewards

Members

•

Integrating marketing efforts with

BSD’s Direct business to reach

small business customers,

including direct mail

•

Continuing smaller store format

testing with goal of improving

overall store productivity

13

Supply Chain Initiatives

•

Opened new state-of-the-

art combination distribution

facility in Pennsylvania

•

Provides world-class

service to both retail and

BSD customers in the

Northeast

•

Employing new Kiva

technology for material

handling system

•

Automated order fulfillment 

is more productive, accurate

and flexible than other

warehouse automation

14

Outlook

•

The Company’s third quarter sales trends through August have

improved in each division as projected on the second quarter’s

earnings call in July

•

Office

Depot’s

“Go

Back

Smarter”

advertising

campaign

was

successful in driving customers into North American Retail

stores for school supplies and helped drive a slightly positive

sales comp for August quarter-to-date

•

The competitive nature of Back-to-School, a higher mix of

technology and increased marketing expense to drive traffic and

awareness will negatively impact North American Retail’s third

quarter operating profit more than originally expected

•

This impact may be mitigated by discrete tax items benefits and

related interest items which we will discuss further on our third

quarter earnings call in late October

15

Summary

•

Focused on returning to sales growth and delivering improved

profit as we go forward

•

Third quarter sales trends through August have improved in

each division as we projected

•

Back-to-School season was competitive as expected but our

advertising campaign was successful in driving customers into

our stores 

•

Pulling all the right levers and controlling what we can control

well

•

Will need tailwind from a recovering global economy and relief

from high unemployment levels to return to more normalized

levels of profitability

16

Safe Harbor Statement

The

Private

Securities

Litigation

Reform

Act

of

1995

(the

“Act”)

provides

protection

from

liability

in

private

lawsuits

for

“forward-looking”

statements

made

by

public

companies

under

certain

circumstances,

provided

that

the

public

company

discloses

with

specificity

the

risk

factors

that

may

impact

its

future

results.

We

want

to

take

advantage

of

the

“safe

harbor”

provisions

of

the

Act.

Certain

statements

made

during

this

presentation

are

forward-looking

statements

under

the

Act.

Except

for

historical

financial

and

business

performance

information,

statements

made

during

this

presentation

should

be

considered

forward-looking

as

referred

to

in

the

Act.

Much

of

the

information

that

looks

towards

future

performance

of

our

company

is

based

on

various

factors

and

important

assumptions

about

future

events

that

may

or

may

not

actually

come

true.

As

a

result,

our

operations

and

financial

results

in

the

future

could

differ

materially

and

substantially

from

those

we

have

discussed

in

the

forward-looking

statements

made

during

this

presentation.

Certain

risks

and

uncertainties

are

detailed

from

time

to

time

in

our

filings

with

the

United

States

Securities

and

Exchange

Commission

(“SEC”).

You

are

strongly

urged

to

review

all

such

filings

for

a

more

detailed

discussion

of

such

risks

and

uncertainties.

During

portions

of

today’s

presentation,

we

may

refer

to

results

which

are

not

GAAP

numbers.

A

reconciliation

of

non-GAAP

numbers

to

GAAP

results

is

available

in

the

investor

relations

section

of

our

web

site

at

www.officedepot.com.

Goldman Sachs 17th Annual Global

Retailing Conference

September 14, 2010