Posted on 06/28/2017 6:09:22 PM PDT by SMGFan
NEW YORK — Private equity firm Sycamore Partners is buying office supplies chain Staples for $6.9 billion. The companies said Wednesday that shareholders of Framingham, Massachusetts-based Staples will get $10.25 per share.
Staples' stock closed Wednesday up 77 cents, or 8.4 percent, to $9.93, fueled by a late-afternoon report of a deal. The stock rose another 1.5 percent in extended trading after the deal was announced.
(Excerpt) Read more at msn.com ...
This is a dying market.
Almost everything sold by Staples will be killed by the cloud.
Staples is going to have to figure out...a different biz model...IMO
Suckers are Born by the Minute
Staples was a nice place to have an impromptu board meeting.
The real estate alone may be worth 6.9 billion.
They need to become like Kinkos.
Didn’t Mitt Romney play a key role in the growth of Staples?
Some Chainsaw Al is buying them?
I was a cloud skeptic because I thought there could never be any security in the cloud. But it finally hit me that it is easier to protect one location than millions.
I only noticed a few weeks ago that the L in “Staples” is a staple.
:-/
And chairs? Well, they are sold in furniture stores.
In fact, think VR. You can sit wherever you like or just stand...or move from room to room or go outdoors and sit on a rock.
The way we interact with computers is about to change completely.
Mitt is so yesterday. So Candy Crowley.
Some things are better in a store. It’s the only way you can judge how well something is made, or if it fits your taste. For example, I prefer trackballs to mice but not all of them fit my hand comfortably.
The majority of their worth is B2B not in drop in sales
You know, that business where an investment banker gets a bunch of investors to take a public company private until it can be transformed into a new and improved entity.
Staples is not a candidate for that. It is a dying business model.
But some stupid banker has convinced some investors to take a chance...on a bad deal.
That said, I have been wrong before.
But right more than wrong.
I bought my last laptop & printer there, and got a pretty good deal.
No one needs a hard copy when it is permanently available on a tablet or laptop.
Printers, cartridges, PC's, paper, etc. are going away (except for hardbound books, which are a luxury and treasure forever).
We had an auction business. A little Kodak printer kept a running record of each item sold. It used a certain ink cartridge used in other printers, too. Staples wouldn’t stock it, forcing us to order online. When I asked why, the Mgr said,”We no sooner get them on display than they sell out!” As I walked out, never to return, I muttered to myself that I always thought that was the desired outcome; to sell product. Of course, I don’t have a business degree.
For some things, sure.
For example... unless I’m buying a printer that I already know, I want to examine it physically rather than online. Some feel flimsy, like the paper trays would easily break. And so on.
For other things online is the way.
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