Staples, Inc. (SPLS) - NASDAQ
  • Wed, May 18, 6:41 AM
    • Staples (NASDAQ:SPLS) reports sales dropped 1.2% in Q1 after excluding the impact of changes in foreign exchange rates and store closures.
    • North American stores and online sales declined 5.2% to $2.25B and comp squeezed 3%.
    • North American Commercial sales rose 0.3% to 2.12B.
    • International operations sales slipped 5.6% to $738M.
    • Gross margin rate down 40 bps to 25.2%.
    • Non-GAAP operating margin rate improved 14 bps to 3.4% due to reduced labor and marketing expense.
    • Q2 Guidance: Sales: down Y/Y; Non-GAAP EPS: $0.11 to $0.13.
    • In FY2016, the company expects to generate ~$600M free cash flow and plans to close down ~50 stores in North America.
    • SPLS +1.45% premarket.
    | Wed, May 18, 6:41 AM
  • Wed, May 11, 12:49 PM
    | Wed, May 11, 12:49 PM | 2 Comments
  • Wed, May 11, 9:12 AM
    | Wed, May 11, 9:12 AM
  • Tue, May 10, 7:09 PM
    • In a quick response after news broke of a preliminary injunction blocking a merger between Office Depot (NASDAQ:ODP) and Staples (NASDAQ:SPLS), Office Depot says it won't appeal the ruling.
    • That means the two will terminate their merger effective May 16.
    • “While we are respectful of the Court’s decision to grant the FTC’s request for a preliminary injunction to prevent our merger with Staples, we are disappointed by this outcome and strongly believe that a merger would have benefited all of our customers in the long term," said Office Depot CEO Roland Smith.
    • "We do not intend to appeal the Court’s decision and the two companies plan to terminate the merger agreement effective May 16, 2016."
    • Smith added that after the formal deal termination, Office Depot would host an investor call May 16 to "discuss next steps in our go-forward strategy."
    • After-hours trading was halted due to volatility with Office Depot down 26.3% and Staples down 10.1%.
    • Updated 7:19 p.m.: Staples adds its statement. It will pay Office Depot a $250M break-up fee, and terminate its plan to sell $550M in large corporate contract business to Essendant. It will increase focus on North America midmarket customers, explore strategic alternatives for Europe, and launch a $300M cost-cutting plan.
    | Tue, May 10, 7:09 PM | 45 Comments
  • Tue, May 10, 6:44 PM
    • Office Depot (NASDAQ:ODP) has nosedived, -26.3% after hours, and Staples (NASDAQ:SPLS) down 5.4%, as a District Court judge issues a preliminary injunction blocking their $6.3B merger, according to Reuters.
    • Options traders were ready for some volatility as they awaited today's ruling, on whether the court would grant a request from the FTC to hold off on the deal until an administrative judge could review it.
    • While this is a preliminary injunction, any drawn-out litigation could end up killing a deal.
    • Trading in the shares has been halted at those marks.
    • Updated 6:55 p.m.: It doesn't look good for the buyout, since Staples CEO Ron Sargent had said in March he would likely scrap the plan if Judge Emmet Sullivan granted this preliminary injunction.
    | Tue, May 10, 6:44 PM | 15 Comments
  • Tue, Mar. 29, 9:24 AM
    • Staples (NASDAQ:SPLS) is on the verge of winning the legal case against the FTC over its bid to buy Office Depot (NASDAQ:ODP), sources tip New York Post.
    • The judge in the case is expected to rule on an outright dismissal motion as earlier as next week.
    • The Amazon defense by Staples appears to be working, especially after the Seattle company said it was coached by the government to lie. Usually court testimony in this type of case is sealed, but Judge Emmet Sullivan ordered it released.
    • "The public ought to know that the government wanted Amazon to say some things that weren’t true," stated Judge Sullivan.
    • SPLS +1.83% premarket to $11.10. ODP -1.75% to $7.31.
    | Tue, Mar. 29, 9:24 AM | 10 Comments
  • Mon, Mar. 28, 10:09 AM
    • Office Depot (NASDAQ:ODP) is up 5.4% in early trading on more enthusiasm over the stance of judge weighing the FTC's argument against the ODP-Staples merger.
    • Staples (NASDAQ:SPLS) is 1.9% higher to follow on last week's late rally.
    • As more of the courtroom back-and-forth has been revealed, it's become more apparent that the Amazon argument may play for Office Depot and Staples.
    • "The court exchange revealed pretty clear evidence that Amazon is, actually, well on its way to establishing a robust business in the space," notes RetailDive.
    | Mon, Mar. 28, 10:09 AM | 2 Comments
  • Wed, Mar. 23, 5:38 PM
    | Wed, Mar. 23, 5:38 PM
  • Wed, Mar. 23, 4:53 PM
    • Dow Jones reports the judge handling the FTC's lawsuit to prevent Staples' (NASDAQ:SPLS) planned merger with Office Depot (NASDAQ:ODP) rebuked the FTC over its legal tactics, and accused the agency of pressuring Amazon to provide favorable testimony.
    • Office Depot is up 5.7% after hours to $6.70. Staples is up 1.3% to $10.18.
    • Prior Staples/Office Depot coverage
    | Wed, Mar. 23, 4:53 PM | 9 Comments
  • Thu, Mar. 17, 9:01 AM
    • There's buzz in the office supply sector after the New York Post reports that Amazon (NASDAQ:AMZN) may make an offer for the corporate business unit of Office Depot (NASDAQ:ODP). The e-commerce giant is seen using the ODP corporate accounts to jump-start its new office supply business.
    • A deal to offload the business would clear a path for the merger between Office Depot and Staples (NASDAQ:SPLS).
    • Sources tell the Post that an activist investor with a significant stake in ODP is pushing for the transaction.
    • Office Depot is up 7.79% premarket to $5.67. Staples is 1.86% higher at $9.87. AMZN is tilting lower, down 0.66% to $570.50.
    | Thu, Mar. 17, 9:01 AM | 3 Comments
  • Fri, Mar. 4, 9:23 AM
    | Fri, Mar. 4, 9:23 AM | 10 Comments
  • Fri, Mar. 4, 6:28 AM
    • Staples (NASDAQ:SPLS) reports North American stores and online sales fell 9.3% to $2.45B and comp squeezed 4% in Q4.
    • North American Commercial sales dropped 1.4% to 2.03B.
    • International operations sales declined 12% to $791M.
    • Gross margin rate -10 bps to 26.2%.
    • Non-GAAP operating margin rate down 1 bps to 5.06%.
    • Q1 Guidance: Sales: decrease Y/Y; Non-GAAP EPS: $0.16 to $0.18.
    • In FY2016, the company expects to generate ~$600M free cash flow and plans to close down ~50 stores in North America.
    | Fri, Mar. 4, 6:28 AM | 2 Comments
  • Wed, Feb. 17, 1:24 PM
    • Staples (SPLS +4.2%) and Office Depot (ODP +2.6%) both trade higher after announcing a deal was worked out to sell corporate business to office supplies wholesales Essendant.
    • The $22.5M deal is contingent on the Staples-Office Depot merger closing.
    | Wed, Feb. 17, 1:24 PM | 8 Comments
  • Tue, Jan. 12, 9:16 AM
    • The FTC has no interest in striking a settlement with Staples (NASDAQ:SPLS) on its acquisition of Office Depot (NASDAQ:ODP), according to New York Post.
    • Hopes of a deal were raised last week when FTC attorney Tara Reinhart said in court that talks were still ensuing.
    • Staples and Office Depot have traded with some volatility off of merger-related developments in the past.
    | Tue, Jan. 12, 9:16 AM
  • Tue, Jan. 5, 4:19 PM
    • A FTC lawyer confirmed today in a courtroom hearing that talks with Staples (NASDAQ:SPLS) over a merger with Office Depot are still progressing.
    • Shares of Staples and Office Depot ended the day higher on renewed optimism that a deal can be salvaged.
    • Previously: Merger buzz swirls around Office Depot and Staples (Jan. 05 2016)
    | Tue, Jan. 5, 4:19 PM | 1 Comment
  • Dec. 8, 2015, 8:27 AM
    | Dec. 8, 2015, 8:27 AM | 9 Comments
Company Description
Staples, Inc. engages in the provision of office supplies retail. It offers a range of products of copy and print and technologies through an integrated retail and online shopping. It operates through the following segments: North American stores and online, North American commercial, and... More
Sector: Services
Industry: Specialty Retail, Other
Country: United States