By Lisa Johnston
New products on display at the American International Toy Fair, held in N
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.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
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.