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 ...
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.
Mainly because this is not the first time that stores are closing. Stores have been shutting down since the beginning of time. It does not matter what year or who is President, they close. I remember Wanamaker’s, Woolworth’s, GeeBee’s, Montgomery Wards, Sam Goodies, and so many others. It is sad to see favorites close but even with a President Cruz, stores will close and businesses will fail.
But do they sell the items I need? That is the question.
Remember back in a bad economy days when the left pointed out that 4.6% unemployment was the worst economy since Herbert Hoover? I sure wish we never return to those dark days. I remember back then we even suffered with pay raises, low prices, easy to find jobs and more. I wonder how we made it through to this Utopia we now live in today. I am sure glad we have our dear leader to protect us from prosperity, self reliance and liberty.
Results of the decimated middle class. The liberals are quivering with glee as they loot what was once America
Last Christmas we planned on buying several high tech items as gifts. Went to all the stores, Best Buy, Radio Shack, Office Max, etc, picked out what we wanted and then bought it at Amazon.
I switched our office supplies from Office Depot to Staples when Office Depot started funding liberal projects and found Staples to be just awesome. No store anywhere near us so have to order on the internet and everything is delivered the next business day. Never had an order wrong, unlike Office Depot.
I’ve noticed that there are lots and lots of empty storefronts in strip malls that were full of small businesses just a few short years ago. Our mall just lost its Belks store and others have moved out to other locations. The country is going down the tubes, ala Cuba, Zimbabwe and Venezuela and nobody seems to notice or care.......................
Not until they unionize...................
You're right. The last book I bought was a real book - hard cover, not even paperback. Reading it now.
There are (at least) 3 things available online that I'm just not a big fan of, I'd rather have in-hand: crossword puzzles, sudoku puzzles, and books. I've got a Kindle app on my tablet and I've read a couple of books on it. It is convenient, and easier to carry than say taking several books...but the paper page is better.
Staples and others - victims of the obama "recovery" ... If this is what a recovery looks like, boy am I glad we're not still circling the drain...
We had one shut down too, Olathe, KS. Pretty nice area also - that was my reaction too. (We also had an Arby’s shut-down, but that’s a little less surprising - they never seem that busy).
......and it looked FABULOUS!.......................
Workers of the world UNITE!.............in the UNEMPLOYMENT LINE!......................
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