Related News
Staples shuts shops to spur growth
Source: Agencies |
September 26, 2012, Wednesday
|
Print Edition
Print Edition
STAPLES is speeding up the closure of about 15 of its US stores and plans to close 45 stores and some delivery businesses in Europe.
The office products company also says it will invest more in its online and mobile efforts and will expand the product assortment.
Staples Inc said yesterday that these moves and other actions are part of a strategic plan to better serve customers' needs and accelerate growth.
Staples is trying to adapt to the evolving needs of its customers. Last month the company reported that its second-quarter net income fell as sales of computers, software, and basic office supplies softened. Computer sales have been pressured by the introduction to many offices of the computer tablet and other mobile devices. Traffic is also down at Staples' stores and Europe continues to be a weak spot.
The chain expects the US store closings will result in a charge of about US$35 million in the fourth quarter. For fiscal 2012, it anticipates about 30 US store closings.
Staples also expects 30 stores will be scaled down and stores being relocated.
In Europe, the store closures are expected to occur before the end of fiscal 2012, the company said without naming any countries. Staples has also tapped John Wilson to serve as president of Staples Europe. Wilson succeeds Rob Vale, who is retiring.
Staples expects its actions to result in charges of US$145 million to US$195 million by the end of fiscal 2012. It also foresees a third-quarter goodwill impairment charge of US$790 million to US$850 million within its European retail and catalog businesses.
The office products company also says it will invest more in its online and mobile efforts and will expand the product assortment.
Staples Inc said yesterday that these moves and other actions are part of a strategic plan to better serve customers' needs and accelerate growth.
Staples is trying to adapt to the evolving needs of its customers. Last month the company reported that its second-quarter net income fell as sales of computers, software, and basic office supplies softened. Computer sales have been pressured by the introduction to many offices of the computer tablet and other mobile devices. Traffic is also down at Staples' stores and Europe continues to be a weak spot.
The chain expects the US store closings will result in a charge of about US$35 million in the fourth quarter. For fiscal 2012, it anticipates about 30 US store closings.
Staples also expects 30 stores will be scaled down and stores being relocated.
In Europe, the store closures are expected to occur before the end of fiscal 2012, the company said without naming any countries. Staples has also tapped John Wilson to serve as president of Staples Europe. Wilson succeeds Rob Vale, who is retiring.
Staples expects its actions to result in charges of US$145 million to US$195 million by the end of fiscal 2012. It also foresees a third-quarter goodwill impairment charge of US$790 million to US$850 million within its European retail and catalog businesses.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
