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Staples to shut 225 stores in North America as sales fall
Yahoo Finance ^

Posted on 03/06/2014 4:24:24 AM PST by Red in Blue PA

(Reuters) - Staples Inc (SPLS), the largest U.S. office supplies retailer, forecast a fall in current-quarter sales as it loses customers to mass market chains and e-retailers, and the company said it would close up to 225 stores in North America by 2015.

Staples' shares fell 9 percent before the bell, after the company also posted lower-than-expected fourth-quarter results and forecast current-quarter profit below analysts' estimates.

The company operates 1,515 stores in the United States and 331 stores in Canada.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bho44; bhoeconomy; layoffs; obama; recession; staples
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This comes on top of something I just heard yesterday. Apparently Cabela's has laid off 500 nationwide, presumably because of obamacare as they were all full-timers.
1 posted on 03/06/2014 4:24:24 AM PST by Red in Blue PA
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To: Red in Blue PA
Two words: Radio Shack.

0bama is destroying the economy piece by piece.

5.56mm

2 posted on 03/06/2014 4:25:46 AM PST by M Kehoe
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To: Red in Blue PA

Bump


3 posted on 03/06/2014 4:27:26 AM PST by lowbridge
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To: M Kehoe

This is not husseins fault. The economy is doing great. These stores are being closed because it got cold for a few days. Yeah, that’s it.


4 posted on 03/06/2014 4:28:23 AM PST by shelterguy
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Comment #5 Removed by Moderator

To: Red in Blue PA

I order all my office supply via the net....

Have not walked into a office supply B&M in years...

This news is not suprising....


6 posted on 03/06/2014 4:28:43 AM PST by Popman ("Resistance to Tyrants is Obedience to God" - Thomas Jefferson)
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To: Red in Blue PA

I hope our Staples isn’t one of them! I shop at Staples all the time for office supplies. Just bought a nice Leather briefcase there last week!


7 posted on 03/06/2014 4:29:04 AM PST by JaguarXKE (1973: Reporters investigate All the President's Men. 2013: Reporters ARE all the President's men)
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To: Red in Blue PA

The media won’t admit that the country’s businesses are going down the tubes and that there are no jobs.


8 posted on 03/06/2014 4:31:11 AM PST by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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Comment #9 Removed by Moderator

To: Red in Blue PA

Our Radio Shack closed a few years ago. Staples closed this January. All of the shopping centers around here have empty stores that aren’t getting filled by new businesses.

Even our Taco Bell just boarded up a few weeks ago.

Not that I shopped or ate there, but there are a lot of jobs being lost and not being replaced.


10 posted on 03/06/2014 4:35:10 AM PST by KosmicKitty (WARNING: Hormonally crazed woman ahead!!)
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To: Red in Blue PA

Wish this news were more about Office Depot.


11 posted on 03/06/2014 4:38:25 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: Popman

“I order all my office supply via the net.”
_________________________________________________
I never saw an office supply store, but I was in a rural area.
All of mine came from Quill, or similar mail-order companies.
Anything I wanted was delivered by UPS in two days.


12 posted on 03/06/2014 4:39:12 AM PST by AlexW
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To: KosmicKitty

How long’s Walmart been there?

I wonder... is Walmart now Too Big To Fail?


13 posted on 03/06/2014 4:39:26 AM PST by polymuser
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To: Red in Blue PA

Combine these retail closings with the Left’s push for an increase in the minimum wage and it’ll become even more likely that the unskilled will become the long-term unemployed.


14 posted on 03/06/2014 4:40:03 AM PST by MNnice
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To: KosmicKitty

“Even our Taco Bell just boarded up a few weeks ago”

Damn a place were you can gas up for only $4 goes under, that is bad news. Where you from?


15 posted on 03/06/2014 4:40:07 AM PST by DAC21
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To: fwdude

What is the problem with Office Depot?


16 posted on 03/06/2014 4:41:13 AM PST by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: Red in Blue PA
As I had thought, there probably isn't going to be one great CRASH - we will just slowly grind to a halt.

And this is one area where conservative economists like Kudlow enrage me - "Corporate profits are UP - hoorah! life is good!"

Sure - those people did well even during the Great Depression, they always will - unemployment is high, which means wages stay low and profit margins are good (or great!) - crony capitalism at it's worst - Hamilton would be infuriated.

17 posted on 03/06/2014 4:41:37 AM PST by Psalm 73 ("Gentlemen, you can't fight in here - this is the War Room".)
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To: KosmicKitty

Book stores as well. And I don’t buy the crap that everyone buys on-line now. People will always love perusing books and magazines.

Two giant Barnes & Noble stores just shut down in my area. Borders went under several years ago.


18 posted on 03/06/2014 4:42:40 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: bert
What is the problem with Office Depot?

Completely in the pocket of the Gaystapo. One of the queerest companies in the country.

19 posted on 03/06/2014 4:44:49 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: M Kehoe

Radio Shack would be in the toilet no matter who was president.


20 posted on 03/06/2014 4:45:52 AM PST by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: Red in Blue PA

That was easy.


21 posted on 03/06/2014 4:46:18 AM PST by VanDeKoik
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Comment #22 Removed by Moderator

To: Red in Blue PA

Reset.


23 posted on 03/06/2014 4:47:59 AM PST by exit82 ("The Taliban is on the inside of the building" E. Nordstrom 10-10-12)
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To: Red in Blue PA

Laying Radio Shack aside as an obsolete business model, the store closings are the result of exuberance and band wagon judgement.

The planners at Staples convinced them selves they could be Subway or Starbucks. Once the thought was produced, the contagion destroyed judgement. They just built too many stores.


24 posted on 03/06/2014 4:48:35 AM PST by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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Comment #25 Removed by Moderator

To: Popman

That’s the problem with a story like this. How much of it is because of the Obama economy, and how much is this because Amazon and others are eating Staples’ lunch?


26 posted on 03/06/2014 4:52:01 AM PST by FreedomPoster (Islam delenda est)
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To: bert

Then how do you explain the layoffs of 500 at Cabela’s?


27 posted on 03/06/2014 4:57:25 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

Their problem is obvious to anyone who walks in the door...

Staples prices are too damn high.


28 posted on 03/06/2014 4:58:50 AM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: F15Eagle
Even a significant portion of the idiot Obama voters have to be affected to a degree.

One wonders, though, whether many of them have the insight to know what's causing their troubles. My bet is that almost none of them do; their stupid voting over the years in a such indicator of that.

29 posted on 03/06/2014 5:00:04 AM PST by OldPossum ("It's" is the contraction of "it" and "is"; think about ITS implications.)
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To: JaguarXKE

I have one 5 minutes or so away. Good place.


30 posted on 03/06/2014 5:00:08 AM PST by wally_bert (There are no winners in a game of losers. I'm Tommy Joyce, welcome to the Oriental Lounge.)
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To: Red in Blue PA

Our staples has down sized but still seems to be busy. Don’t know what their bottom line is but they have good sales which I take advantage of.


31 posted on 03/06/2014 5:00:50 AM PST by Sacajaweau
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To: KosmicKitty

But there are plenty Dollar General, Dollar Tree, and Family Dollar stores taking their place.

Sign of the times, I reckon...


32 posted on 03/06/2014 5:01:01 AM PST by ItsOurTimeNow ("Scheming demons dressed in kingly guise, beating down the multitudes and scoffing at the wise.")
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To: OldPossum

“in a such indicator of that.”

That should be “is a sure indicator of that.”


33 posted on 03/06/2014 5:03:34 AM PST by OldPossum ("It's" is the contraction of "it" and "is"; think about ITS implications.)
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Comment #34 Removed by Moderator

To: Red in Blue PA

> ... Cabela’s has laid off 500 nationwide ...
The layoff are probably due to the death 2 weeks ago of founder Richard Cabela who had a 25% ownership in the company.
If a billionaire dies, the government wants the death taxes and they don’t care how it gets paid.
I had an uncle who owned 4 furniture stores. When he died, my aunt had to close the stores, lay off about 300 people and liquidate the inventory in order to pay the taxes. This is probably the same thing.


35 posted on 03/06/2014 5:07:15 AM PST by BuffaloJack (Freedom isn't free; nor is it easy. END ALL TOTALITARIAN ACTIVITY NOW.)
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To: polymuser

“I wonder... is Walmart now Too Big To Fail?”

Or, will Walmart become the ‘official’ government store?


36 posted on 03/06/2014 5:08:18 AM PST by stars & stripes forever (Blessed is the nation whose God is the Lord.)
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To: Fresh Wind
Yes; $14.95 for a blank, flip-over, 8½x11, 2014 calendar? I printed one from the Net, w/ holidays, for the cost of paper & ink. Buh-bye, Staples!
37 posted on 03/06/2014 5:08:37 AM PST by carriage_hill (Peace is that brief glorious moment in history, when everybody stands around reloading.)
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To: Red in Blue PA

Romney’s Fault! ?


38 posted on 03/06/2014 5:10:17 AM PST by jaydubya2
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To: Red in Blue PA

The last time I went into staples was to score some free after rebate CDs and DVDs probably 15 years ago.


39 posted on 03/06/2014 5:10:30 AM PST by Brooklyn Attitude (Things are only going to get worse.)
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To: fwdude

That would be Old Navy


40 posted on 03/06/2014 5:10:33 AM PST by hans56 ( Audit the FED)
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To: Red in Blue PA

Radio Shack
Staples
Best Buy...

The beginning of a long list. Obama’s legacy.


41 posted on 03/06/2014 5:11:03 AM PST by ThomasMore (Islam is the Whore of Babylon!)
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To: Red in Blue PA

Well, perhaps over expansion is in play there also.

Locally, Cabela’s is building a new store. They have been at it for over a year. The site they chose is many acres. The main acerage is (was) actually a short hill. That is a scoop of ice cream shaped hill that is say 75 feet high, solid rock.

They have been chewing on that solid rock hill for at least a year and are only about half way through. The excavated rock is being used in a classic cut an fill operation to fill the adjacent hollow. I can’t begin to guess the cost. The site is adjacent to Virginia Exit 5 on I 81.

Meanwhile, down the road at Tennessee Exit 1, Bass Proshops has completed their dirt work and have the steel up.

Bristol is somewhat different than other places though. The Bristol Speedway draws 150,000 fans twice a year from all over. They come and camp for several days and go shopping. You might not believe it but there are thousands of RV’s that come for the races.


42 posted on 03/06/2014 5:18:04 AM PST by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: F15Eagle
They realize that something bad is happening to them. But they lack the intelligence to be able to deduce that it is their own actions that are causing their pain. Therefore, they blame their inflictions on others that are not remotely connected to it[the pain].

To illustrate: They are unable to connect the pain in their big toe to the hammer they have in their hand and are hitting the said toe. Hence, they continue whaling on their toe and complaining about the pain.

As far as attempting to explain this to them goes; forget about it is a total waste of time. It would be similar to explaining a physics problem to a nursing age infant. I used the term "similar" because there is a slim chance that the infant may comprehend; there is no chance that an Obama worshiper or Democrat voter will ever understand what you are saying.

43 posted on 03/06/2014 5:19:23 AM PST by sport
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To: F15Eagle
I never knew how stupid a significant part of America could be nor how easily it could be led down the path to complete ruin.

So true.

I fear for my country knowing that this truth is so glaringly real. The problem is bigger than Obama and the democrats... Sometimes I think we're just doomed.

44 posted on 03/06/2014 5:20:58 AM PST by Alas Babylon!
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To: F15Eagle
Office Depot is rated 100 by HRC for "gay" friendliness, which means they extend all benefits of married employees to homosexuals who simply claim this status, have "health care" coverage that provides "sex-change" operations, requires employees to embrace the homosexual agenda, and advocates for counterfeit "marriage" and blanket special rights for homosexuals through participation in "gay pride" events.

I don't understand how people can be so out of touch on these issues. Do some research.

45 posted on 03/06/2014 5:24:27 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: hans56

Yes, Old Navy too, but Office Depot is every bit as bad. Add Homo Depot to that list as well.


46 posted on 03/06/2014 5:25:45 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: shelterguy

More enslaved workers freed from the the drudgery of a job.


47 posted on 03/06/2014 5:28:04 AM PST by Flick Lives ("I can't believe it's not Fascism!")
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To: Fresh Wind

Exactly right. As a small-business owner, I need a lot of what they sell. I will ONLY buy their sale items, and then they’re actually pretty competitive.

For example, I recently needed a new color laser printer for the office, and their price including shipping was within $10 of the best I found on-line, and they had next-day delivery included in their price, so they got my business on that one.

Their coupons on paper are also usually good - and I stock up when the biggest discounts are offered. I recently got 2 cases of general purpose printer/copier paper for next to nothing after rebates, which they helpfully allow you to submit on-line.

But their “every day” prices on everything else are through the roof. They have probably conditioned every one of their customer do act like I do, which leaves high-priced inventory sitting on shelves, and low-margin or loss-leader items flying off the shelves. Can’t cover all of that overhead with a model like that.


48 posted on 03/06/2014 5:30:19 AM PST by Be Free (I believe in gun control. The more people that control their own guns, the safer we'll all be.)
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To: ItsOurTimeNow

But there are plenty Dollar General, Dollar Tree, and Family Dollar stores taking their place.

****************

And Walmart moving towards the smaller markets with their Express Stores and Neighborhood Markets.


49 posted on 03/06/2014 5:31:13 AM PST by deport
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To: FreedomPoster
...how much is because Amazon and others are eating Staples lunch?

I like going to stores for a few hours each week to shop, but not lately. The problem is inventory. There's usually too much stale merchandise and too many best sellers that are out of stock.

Look at the stores now. They're stocking spring clothes and gardening things, when people need to replace winter stuff that's wearing out. It's weird that in the age of technology that retail is less responsible to current situations.

50 posted on 03/06/2014 5:32:23 AM PST by grania
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