photo credit: APWU
(Reuters) – Staples Inc, the largest U.S. office supplies retailer, reported a 10.6 percent decline in quarterly sales, hurt mainly by a fall in same-store sales in North America, and said it planned to close 225 stores by 2015.
The company also said it had initiated a $500 million gross cost reduction program.
Staples’ sales fell to $5.87 billion in the fourth quarter ended Feb. 1 from $6.57 billion, a year earlier.
Comparable store sales in North America, excluding sales through Staples.com, fell 7 percent.
Staples’ net income from continuing operations rose to $212 million, or 33 cents per share, from $90 million, or 14 cents per share, a year earlier.The company earned 33 cents per share from continuing operations, excluding items.
Staples to shut 225 stores in North America as sales fall
Really Joe??? Are you that far gone you believe that??
Leave it up to USPS mgmt to want to pair up with *another* losing business.
Good ! that will teach them to take our jobs,
That’s what you get for messin’ with the APWU. The Union “put the word out” on Staples and no one patronized them anymore.
Solidarity destroyed Staples almost overnight.
Let that be a lesson to other capitalist opportunists.
In the morning I will sing the “Internationale” with even more enthusiasm, if that is possible.