Content about Ravi Saligram

May 7, 2013
OfficeMax has ‘challenging’ Q1

Declines in technology product category sales and decreased foot traffic at its stores affected OfficeMax’s results for its fiscal first quarter ended March 30, 2013.

NAPERVILLE, Ill. — Declines in technology product category sales and decreased foot traffic at its stores affected OfficeMax’s results for its fiscal first quarter ended March 30, 2013. 

April 9, 2013
Office Depot, OfficeMax move forward on merger

OfficeMax and Office Depot have announced the committee members tasked with overseeing the process to select a CEO for the combined company and selection of the executives who will help to manage the integration planning process.

NAPERVILLE, Ill. & BOCA RATON, Fla. — OfficeMax and Office Depot have announced the committee members tasked with overseeing the process to select a CEO for the combined company and selection of the executives who will help to manage the integration planning process. 

February 20, 2013
OfficeMax, Office Depot merger moves forward

The office retail field narrowed Wednesday, as OfficeMax and Office Depot officially announced an agreement to merge into a single company.

NAPERVILLE, Ill. and BOCA RATON, Fla. — The office retail field narrowed Wednesday, as OfficeMax and Office Depot officially announced an agreement to merge into a single company. The combined company would have had pro forma combined revenue for the 12 months ended Dec. 29, 2012 of approximately $18 billion.

Under the terms of the agreement, OfficeMax stockholders will receive 2.69 Office Depot common shares for each share of OfficeMax common stock.

February 1, 2013
OfficeMax, Brandon Marshall score touchdown for Chicago teachers

OfficeMax partnered with Chicago Public Schools and wide receiver Brandon Marshall to surprise 100 local teachers on Thursday with a $100,000 total donation in essential school supplies for their classrooms.

NAPERVILLE, Ill. — OfficeMax partnered with Chicago Public Schools and wide receiver Brandon Marshall to surprise 100 local teachers on Thursday with a $100,000 total donation in essential school supplies for their classrooms. 

May 8, 2012
OfficeMax Q1 profits drop on store closing costs

Charges related to store closures in the United States caused OfficeMax's first quarter net income to drop from $4.9 million, or 6 cents per diluted share, compared with $11.4 million, or 12 cents per diluted share, in the first quarter of 2011.

NAPERVILLE, Ill. — Charges related to store closures in the United States caused OfficeMax's first quarter net income to drop from $4.9 million, or 6 cents per diluted share, compared with $11.4 million, or 12 cents per diluted share, in the first quarter of 2011. Adjusting for these charges, net income for the quarter was $20.3 million, or 23 cents per diluted share, compared with $11.4 million, or 13 cents per diluted share for the same period last year.

September 7, 2011
ODP makes the grade, OfficeMax fails in BTS sales

Ahead of its presentation at the Goldman Sachs Annual Global Retailing Conference, OfficeMax said it is updating its outlook for the third quarter and second half of 2011, reflecting continuing struggles in a down economy.

NAPERVILLE, Ill. and BOCA RATON, Fla. — OfficeMax and Office Depot had very different things to say about their respective back-to-school sales performances during presentations at the Goldman Sachs Annual Global Retailing Conference.

OfficeMax has been experiencing slower sales as consumers continue to be price conscious. In addition, Ravi Saligram, president and CEO of OfficeMax, reported that back-to-school sales are soft and the company is experiencing weaker technology sales.

August 2, 2011
OfficeMax results an indicator of ongoing economic challenges

Not that anyone needed it, but weak second-quarter sales at OfficeMax provided additional evidence this week that the nation’s business climate remains exceedingly challenging.

NAPERVILLE, Ill. — Not that anyone needed it, but weak second-quarter sales at OfficeMax provided additional evidence this week that the nation’s business climate remains exceedingly challenging.

April 22, 2011
OfficeMax taps Walmart exec for new role

Former Walmart merchandising and store operations executive Michael Lewis was named EVP and president of retail at OfficeMax.

NAPERVILLE, Ill.  -- Former Walmart merchandising and store operations executive Michael Lewis was named EVP and president of retail at OfficeMax. Lewis will report to OfficeMax president and CEO Ravi Saligram and have responsibility for all aspects of the company’s retail business including merchandising, store operations and real estate.