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Staples Inc

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BUSINESS
December 18, 1998 | From Times Wire Services
Staples Inc. said Thursday it will acquire a phone services company, beef up its online sales operation and relocate several stores in an effort to better serve small businesses. The nation's second-largest office supplies retailer behind Office Depot Inc. said it will pay $150 million for Claricom Holdings Inc., which provides paging, messaging, videoconferencing, long-distance and Internet services, from a group including Boston-based investment firm Bain Capital Inc. Milford, Conn.
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BUSINESS
April 24, 2014 | By Ricardo Lopez
Members of the American Postal Workers Union are launching protests Thursday in 27 states to decry a partnership between the U.S. Postal Service and office supply company Staples Inc. to run postal counters at its retail stores.   The agreement between the Postal Service and Staples, announced in November, created a pilot program to operate 82 postal counters at Staples locations across the country. The quick-service counters will be staffed by Staples employees.  Organizers plan to demonstrate at a Staples location in downtown Los Angeles on Thursday, one of four protests planned in California.
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BUSINESS
February 20, 1991 | Chris Woodyard and Anne Michaud/Times staff writers
Staples Acquisition: HQ Office Supplies Warehouse Inc. said Tuesday that it has completed sale of its Irvine and San Bernardino stores to Staples Inc. in a $3.7-million deal. HQ is also working on the sales of five other stores, including one in Fullerton, and the leasing of another to Staples in the next few weeks. Staples Inc.
BUSINESS
December 3, 2008 | Times Wire Reports
Staples Inc. said its fiscal third-quarter profit sank 43% because of hefty charges from restructuring and the acquisition of European rival Corporate Express. But excluding the charges, its results still beat Wall Street estimates, despite a decline in retail sales. For the three months ended Nov. 1, the Framingham, Mass.-based retailer said it earned $156.7 million, or 22 cents a share, down from $274.5 million, or 38 cents, a year earlier. Excluding one-time items, Staples earned 42 cents a share, a penny ahead of forecasts of analysts polled by Thomson Reuters.
BUSINESS
October 12, 2000
* Staples Inc. said it could achieve an earnings-per-share growth rate of 30% for fiscal 2001, with sales up 17%, despite recent worries that the retailer is losing its grip on the office products market. Staples posted a profit of 68 cents a share and revenue of $8.84 billion for fiscal 2000.
BUSINESS
August 19, 2000 | EDMUND SANDERS and STUART SILVERSTEIN, TIMES STAFF WRITERS
As Marci Grebstein sat at home watching President Clinton address the Democratic National Convention this week, the marketing executive for Staples Inc. was delighted by something that had nothing to do with politics: The president mentioned her company's name. Sure, it was just a passing reference to the company-sponsored Staples Center in downtown Los Angeles, and it's unlikely to have spurred anyone to rush out to a Staples store for paper clips.
BUSINESS
June 7, 2001 | Reuters
Staples Inc. postponed its June annual shareholders meeting to a yet-to-be determined date in August. The move comes a day after a judge ruled to delay its controversial plan to buy back shares of its online unit. A Delaware judge ruled that the Framingham, Mass.-based company needed to provide its shareholders with more information on its share repurchase plan. Staples in March dropped its planned initial public offering of a tracking stock for the online business.
BUSINESS
March 1, 2006 | From Bloomberg News
Staples Inc., the world's largest office supplies retailer, said fourth-quarter profit rose 15% on healthy gains in sales at stores and in direct sales to business customers. The shares had the biggest gain in almost a year. Net income rose to $290 million, or 39 cents a share, exceeding analysts' estimates. A year earlier, earnings were $251.3 million, or 33 cents. Sales rose 10% to $4.46 billion, Framingham, Mass.-based Staples said.
BUSINESS
March 5, 2004 | From Bloomberg News
Staples Inc., the world's biggest retailer of office supplies, said fourth-quarter profit rose 29% as businesses increased spending at its stores. The company will pay an annual cash dividend for the first time. Net income rose to $211.9 million, or 42 cents a share, from $164.7 million, or 35 cents, a year earlier, Framingham, Mass.-based Staples said. Sales climbed 10% to $3.68 billion, the smallest gain in five quarters. Staples shares fell 50 cents to $26.55 on Nasdaq.
BUSINESS
August 26, 2003 | From Associated Press
Building companies KB Home and Hayward Lumber, as well as office supply chain Staples Inc. -- all major consumers of wood products -- have lined up with environmental groups trying to protect Alaskan forests. The three companies have sent letters to the Forest Service opposing a proposal that would exempt Alaska's Tongass and Chugach national forests from a nationwide prohibition against road building in national forests.
BUSINESS
August 20, 2008 | From Times Wire Services
Office products supplier Staples Inc. gave a bleaker outlook for full-year profit after small businesses reined in purchases. Second-quarter earnings per share fell an estimated 15% after the fifth consecutive drop in North American same-store sales, Staples said in a statement giving preliminary results. For the full fiscal year, profit excluding the acquisition of Corporate Express will be little changed from 2007, the company said. Framinghan, Mass.-based Staples doesn't anticipate sales trends will improve anytime soon, Chief Financial Officer John Mahoney said.
BUSINESS
February 20, 2008 | From the Associated Press
Corporate Express on Tuesday swiftly rejected an unsolicited $3.67-billion buyout offer from Staples Inc. as too low, but some analysts expect the strategic advantages of combining the two office products suppliers will yield an eventual agreement. Staples disclosed Tuesday that it had offered to pay a hefty premium in an all-cash bid for Corporate Express -- a proposal that sent the Netherlands-based wholesaler's U.S. shares up nearly 39%.
BUSINESS
October 23, 2007 | From Times Wire Services
Dell Inc. said it would sell personal computers, printers, monitors and ink supplies in 1,400 Staples Inc. stores in another move into retail after breaking from 23 years of selling directly to the public. Staples, the world's largest office supplies retailer, will start selling the Dell products in November. That will bring the number of retail outlets carrying Dell products to more than 10,000, both companies said in a statement.
BUSINESS
May 23, 2007 | From Times Wire Services
Office supply retailer Staples Inc. nudged its profit guidance lower Tuesday, saying the pressure to cut costs among consumers and businesses could slow already sluggish U.S. sales. The forecast came as Staples reported that profit rose 12% in its fiscal first quarter, when listless domestic sales growth was offset by strong gains in its office products delivery business and overseas operations. Staples' shares fell 62 cents, or 2.4%, to $25.05. Framingham, Mass.
BUSINESS
March 1, 2006 | From Bloomberg News
Staples Inc., the world's largest office supplies retailer, said fourth-quarter profit rose 15% on healthy gains in sales at stores and in direct sales to business customers. The shares had the biggest gain in almost a year. Net income rose to $290 million, or 39 cents a share, exceeding analysts' estimates. A year earlier, earnings were $251.3 million, or 33 cents. Sales rose 10% to $4.46 billion, Framingham, Mass.-based Staples said.
BUSINESS
January 7, 2006 | From Reuters
The state's 2nd District Court of Appeal has reinstated a lawsuit claiming that Staples Inc. overcharged customers when shipping products, saying the company in effect sold insurance without a license. The ruling said the trial court erred when it said Staples was exempt from insurance licensing rules. Staples doubled insurance costs on some items and pocketed the increase as a commission, according to court papers.
BUSINESS
May 18, 2005 | From Times Wire Services
Staples Inc., the world's largest office supplies retailer, said its fiscal first-quarter profit rose 27% on greater demand for the company's branded products and increased sales to businesses. Profit this year will be at the high end of its forecast, Staples said. The company's net income climbed to $159.4 million, or 21 cents a share, 1 cent more than analysts expected and up from $125.7 million, or 17 cents, a year earlier. Sales in the three months ended April 30 rose 13% to $3.
BUSINESS
November 17, 2004 | From Bloomberg News
Staples Inc., the world's top office supply retailer, said third-quarter earnings climbed 26% as the company sold more of its own products and benefited from strong demand for back-to-school items such as calculators. Net income rose to $208.9 million, or 41 cents a share, from $165.8 million, or 33 cents, a year earlier, the Framingham, Mass.-based retailer said. Sales rose 12% to $3.83 billion. Shares of Staples fell 32 cents to $30.87 on Nasdaq.
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