San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
Framingham, Mass. — Staples reported lower sales and earnings for its fiscal first quarter.
Net income declined 9.1 percent to $169.9 million, and net sales slipped 3 percent to $5.8 billion for the three months, ended May 4.
The No. 1 office-supply chain said sales were impacted by the closure of 97 stores in North America and Europe during the preceding 12 months and unfavorable foreign exchange rates.
Operating income fell 12 percent to $170 million as the company continued to pay down debt and make capital investments to accelerate growth.
Framingham, Mass. — Staples said it will begin selling 3D printers in the U.S., claiming it is the first major retailer in this country to do so.
The Cube 3D Printer from 3D Systems, a provider of 3D content-to-print solutions, is immediately available on Staples.com for $1,299 and will be available in a limited number of Staples stores by the end of June.
Framingham, Mass. — Tablets and e-readers fueled a 3 percent sales gain for Staples in the fourth quarter, although earnings fell 68 percent due to one-time charges.
Profits at the No. 1 office-supply chain totaled $90 billion for the three months, ended Feb. 2, and net sales hit $6.6 billion, although the results reflect singular events and fiscal calendar changes. Excluding one-time charges for the closure of 15 U.S. and 45 European stores, plus other items, net earnings were $308 million, an increase of 8.5 percent.
Naperville, Ill. – Office Depot and OfficeMax have agreed to merge.
Pending stockholder and regulatory approval, the No. 2 and 3 office-supply chains will combine by the end of the year into a new, $18 billion entity that is better able to compete in an increasingly competitive marketplace, the companies said.
Framingham, Mass. – Staples’ president/COO Michael Miles Jr. is leaving after 10 years with the No. 1 office supply chain for a position with investment firm Berkshire Partners.
No successor was named.
In announcing Miles’ resignation, effective Feb. 2, Staples chairman/CEO Ron Sargent thanked him for his leadership and service. “Mike brought new energy to our brand, drove growth in our services business, and restructured and integrated our international operations. We wish him all the best.”
Framingham, Mass. — Staples reported a net loss on a GAAP basis of $569 million in its fiscal third quarter, ended Oct. 27, and a slight decrease in net sales.
As a result of previously announced charges, on a GAAP basis, Staples reported a net loss of $569 million from continuing operations, compared with net income of $324 million in the third quarter of 2011.
The operating loss was $357.1 million in the quarter, compared with operating income of $529.2 million in last year’s fiscal third quarter.
Chicago – Premium gaming accessories supplier SteelSeries is expanding its North American retail footprint in time for the holiday shopping season.
Consumers can now find select SteelSeries gaming audio, mice, keyboards, controllers and mousepads at h.h. gregg, EB Games Canada, Staples Canada, London Drug, Target.com, Costco.com, Hastings, TigerDirect and The Source.