Staples Reports 39% Decline in First-Quarter Profit

Posted on May 20, 2015May 20, 2015 by 21cpw

By Lisa Beilfuss – May 20, 2015 Staples Inc. reported a 39% decline in first-quarter profit, as sales continued to decline and store traffic dwindled, deepening the chain’s challenges as it awaits regulatory approval for its takeover of rival Office Depot Inc. Shares fell 1.9% in morning trading. Year-to-date, shares have dropped 11.7%. Chief Executive…

Staples to buy Office Depot – There’s about to be one game in town when it comes to office supplies.

Posted on February 4, 2015February 5, 2015 by 21cpw

Staples (SPLS) announced Wednesday it intends to buy rival Office Depot (ODP) in a $6.3 billion deal, betting that the key to higher profits is operating on an even larger scale. That’s the same calculation Office Depot made not long ago, when it bought OfficeMax. “Office Depot will make Staples bigger, and most importantly, we…