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 ...
0bama is destroying the economy piece by piece.
5.56mm
Bump
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.
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....
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!
The media won’t admit that the country’s businesses are going down the tubes and that there are no jobs.
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.
Wish this news were more about Office Depot.
“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.
How long’s Walmart been there?
I wonder... is Walmart now Too Big To Fail?
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.
“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?
What is the problem with Office Depot?
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.
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.
Completely in the pocket of the Gaystapo. One of the queerest companies in the country.
Radio Shack would be in the toilet no matter who was president.
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