The ODP Corporation (NASDAQ:ODP) Q3 2023 Earnings Call Transcript

I’ll use that more broadly speaking, travel area that can drive traffic as it relates to, not going to the store just particularly for office supplies or for the categories we carry. And then from an e-commerce perspective, if you visit our site, you’ll see we’re constantly looking at ways to drive traffic, looking at ways to market to our customer base to try to drive that traffic. And that’s been probably the biggest challenges this year. Candidly has been the e-commerce versus the actual in-stores down, but e-commerce has been a bigger challenge. But we have a new leader in place and we are doing everything we can to drive momentum in that business.

Joe Gomes: Okay. Great. And one last one for me on there. What kind of growth customers sequentially did you see in that business?

Anthony Scaglione: We don’t break out the customer accounts, but I can say what we’ve seen is the continued momentum and what they’ve been able to deliver, it’s a relatively new business model. It’s just getting the word out. You see the excitement on LinkedIn and the areas that we’re doing some specific, what I would say low-cost business model marketing that’s driving attention. And we’re getting our fair share of looks. It’s a tough market, as you can imagine, the 3PL logistics market, being a new player in that market, just being recognized from a capability standpoint. But if we have an opportunity and we’re expecting some time in Q1 to do a Veyer Day similar to the Varis Day, where we can share a lot more about not only what we’re doing with existing customers, but how we’re developing the platform further to drive additional growth over the next couple of years.

And as you know, it’s a very large market and our ability to drive opportunities with the infrastructure, and the assets that, Chairman, Joe mentioned in his prepared remarks. It’s clearly an area that’s driving a lot of excitement within the company and also with our customers.

Joe Gomes: Great. Thanks for that update. Thank you.

Anthony Scaglione: Thanks, Joe.

Operator: Thank you. And this concludes the Q&A session for today. I will now turn the call back over to The ODP Corporation’s Chairman of the Board, Joe Vassalluzzo, for closing remarks.

Joseph Vassalluzzo: Thank you. And thank you again for joining our call today. We certainly appreciate your interest in The ODP Corporation, and look forward to speaking with you again next quarter.

Operator: Thank you for your participation in today’s call. You may now disconnect.