Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Finance

Finance

Staples Facing Troubling Times

Staples Staples
Staples Staples

The word on Wall Street is that Staples Inc. is facing dark times. This past march the office supply chain announced plans to close as many as 225 stores in an attempt to recoup losses. Staples has been experiencing consistent decline in sales as well as losing customers to the convenience and pricing of Amazon. Brian Yarbrough, an analyst at Edward Jones & Co, stated “It is a positive that Staples is closing stores, shrinking the square footage of stores, but we’re talking about an industry that’s under constant pressure from Amazon, and unfortunately, there’s no value-add for Staples.”

Staples’s stock climbed by a tremendous 39% last year, but has already fallen 15%. Brokers predict that the stock will fall an additional 15% in the next year bringing the stock down to $11.27. Meanwhile Amazon’s stock is expected to go up as much as 42% in the same amount of time. The office supply industry has suffered as a whole, declining 1.8% overall between 2009 and 2014.

Still Staples sold 35% of all office supply sales last year. Their only other major industry based competitor is Office Depot Inc. who recently merged with OfficeMax Inc. Though paper is not as necessary as it once was, Staples is still fulfilling a valuable duty. Amazon has bitten a huge chunk off Staples’s internet sales, but that is only a part of their total operation. Joe Feldman, a New York-based analyst at Telsey Advisory Group, explained “The macro environment continues to pressure the formation of small and medium businesses, which is a growth driver for Staples.” So don’t count Staples out just yet, because they’re not going down without a fight.

 


Comment Template

You May Also Like

Business

After years of subdued activity, experts predict an IPO market rebound in 2025, fueled by pent-up demand and a strong pipeline of companies. While...

Business

Amazon has appointed Whole Foods CEO Jason Buechel to lead its global grocery operations, signaling a bold push to redefine the grocery industry. With...

Business

Amazon is transforming Prime Video to achieve profitability by 2025, focusing on live sports, integrating third-party channels, and diversifying revenue streams. Led by CEO...

Business

Wall Street soared on January 15, 2025, as cooling inflation, strong bank earnings, and falling Treasury yields fueled investor optimism. The Dow, S&P 500,...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok