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.

Costco Wholesale Corporation reported net sales of $19.26 billion for the retail month of July, the four weeks ended August 4, 2024, an increase of 7.1 percent from $17.99 billion last year. Net sales for the first 48 weeks were $229.81 billion, an increase of 7.1 percent from $214.53 billion last year.

*Fourth quarter revenues were $2.43 billion, compared to $2.67 billion in the prior year, reflecting the absence of the extra week in the prior year and the negative impact from foreign currency fluctuations *Net loss in the quarter was $(32) million, inclusive of $166 million related to higher non-cash write- downs and restructuring charges, compared to net income of $127 million in the prior year, which included a $149 million tax benefit *Fourth quarter Total Segment EBITDA was $341 million, compared to $315 million in the prior year *Digital revenues accounted for over 50% of total revenues for the full year, marking a key inflection point in the transformation of the Company