Office Depot Inc. is the latest retailer to benefit from new pandemic spending patterns, but that isn’t where it should focus its future efforts. The company’s shares got a sharp boost from Wednesday’s rising as much as 22%. Shareholders had two reasons to get excited: the company’s impressive operating income, which more than tripled this quarter year over year, and its announcement of a “limited duration shareholder rights plan.” The latter, often called a poison pill, is a measure typically adopted to make a company unattractive...

Source: Wall Street Journal May 06, 2020 18:11 UTC