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ed11563


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Staples may close 50 stores
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http://www.newsday.com/business/staples-to-close-50-stores-not-known-if-li-locations-affected-1.11539624 Reprints

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Staples may close 50 stores; impact on LI sites unknown

March 4, 2016 By Combined wire services

People walk outside a Staples Inc. store in People walk outside a Staples Inc. store in Clawson, Michigan on Monday, Feb. 29, 2016. (Credit: Bloomberg / Sean Proctor)

 

Staples Inc. said it will walk away from its yearlong effort to purchase Office Depot Inc. if a judge sides with federal regulators seeking to block the deal.

And Staples CEO Ronald Sargent said Friday the company’s “plan B” could involve closing 50 more stores.

 

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An injunction hearing is due to begin this month, with U.S. District Judge Emmet Sullivan ruling on the case by May 10. If Sullivan sides with the U.S. Federal Trade Commission, “the acquisition of Office Depot is over from our perspective,” Staples officials said on a conference call Friday.

Staples has already been preparing for life without an Office Depot merger, a deal that would have unified the two largest office-supply chains in the United States. In January, the company shook up management and pledged to make its business more efficient, saying it may need to compete solo.

The FTC sued to block the transaction in December, arguing that a merger would squelch competition and raise prices for customers. Staples previously tried to buy Office Depot in the 1990s and was thwarted by the FTC.

As part of a “plan B” scenario, Staples said it will look to drive growth in categories outside of office supplies. It also plans to close more low-performing stores.

Sargent said Friday another 50 stores would be closed this year, bringing the number of shuttered locations to 300 since the beginning of 2014.

There are 22 Staples stores on Long Island, according to the company’s website. The list of stores scheduled to close is not finalized, a company spokeswoman said Friday. “As customers shift online, we are taking aggressive action to right-size our retail footprint,” she added

. With Newsday staff

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Frozen Sucks!

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So Trump, according to Romney, is a failure because some of his businesses failed, but Romney who started Staples is not a failure? Yeah posted about this yesterday. Romney is the fraud.

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Lawyerlady


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Our Staples closed over a year ago.

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cadiver


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I don't think Romney has been involved in staples for years.

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Lawyerlady


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cadiver wrote:

I don't think Romney has been involved in staples for years.

 And Trump had already pulled most of his interests out of Atlantic City but still gets grief for that.



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cadiver


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Lawyerlady wrote:
cadiver wrote:

I don't think Romney has been involved in staples for years.

 And Trump had already pulled most of his interests out of Atlantic City but still gets grief for that.

 I think he was still involved.  Taj Mahalo went filed for bankruptcy in 1991 a year after it opened.  Trump plaza hotel ac filed in 1992.



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Lady Gaga Snerd


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That's impossible! This is the best economy ever! Things are going great for everybody! It's like the 80's all over again!

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flan327


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I know what to do_sometimes wrote:

So Trump, according to Romney, is a failure because some of his businesses failed, but Romney who started Staples is not a failure? Yeah posted about this yesterday. Romney is the fraud.

 They're both frauds, in one way or another.

flan



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Lady Gaga Snerd


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flan327 wrote:
I know what to do_sometimes wrote:

So Trump, according to Romney, is a failure because some of his businesses failed, but Romney who started Staples is not a failure? Yeah posted about this yesterday. Romney is the fraud.

 They're both frauds, in one way or another.

flan

 Oh FFS!  The easiest position in life is to sit by and criticize and be a detractor and scoff and mock.  evileye



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Lady Gaga Snerd


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I might take you seriously if you actually applied the same standards to your liberal icons, but you don't.

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flan327


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Lady Gaga Snerd wrote:

I might take you seriously if you actually applied the same standards to your liberal icons, but you don't.

 I am crushed.

I'm not sure I have any icons, truth be told.

Politics is a dirty business.

flan



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ed11563


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This was an article about business management.

The thread somehow IMMEDIATELY turned into a political crap fest.

Now I'm sorry I posted it in the first place.



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Frozen Sucks!

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ed11563 wrote:

This was an article about business management.

The thread somehow IMMEDIATELY turned into a political crap fest.

Now I'm sorry I posted it in the first place.

 yeah but you posted it soon after mitt chided the don for being a failure since many of his ventures went under.  Staples=Mitt



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Lady Gaga Snerd


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Sorry why? Are we not allowed to explore different aspects of a topic including the political? You are sorry because it casts shade on Romney who was criticizing Trump.

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