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Staples Inc
Staples, Inc. was an American multinational office retail company. It was founded in 1986 in Boston, Massachusetts by Thomas G. Stemberg and Leo Kahn. The company's headquarters was located in Framingham, Massachusetts.
Staples sells a variety of office supplies, including staples, paper, pens, pencils, markers, art supplies, copy and print paper, and file folders. The company also sells computer and technology products, such as software, laptops, and printers. Additionally, it offers facility and breakroom supplies, including cleaning and maintenance products, trash bags, and coffee and snack machines.
In terms of its stock Performance, Staples' stock symbol was SPLS and it was listed on the Nasdaq stock exchange. In 2015, Staples attempted a merger with Office Depot, another office supply retailer, but the deal was blocked by the Federal Trade Commission due to antitrust concerns.
In terms of its financials, Staples had mixed results. In its last quarterly earnings report as an independent company, Staples reported that its sales had decreased by 3.7% year-over-year to $5.13 billion. The company's net income was $217 million, a 57% decrease from the previous year.
Staples had been facing declining sales and profits in recent years due to increased competition from online retailers such as Amazon, as well as a shift toward digital documents and away from paper-based office supplies. In response, the company had been closing underperforming stores and cutting costs to improve its profitability.
In 2017, Staples was acquired by the private equity firm Sycamore Partners and was taken private. The deal was worth $6.9 billion and resulted in Staples becoming a privately held company.
In terms of growth, Staples had been focused on expanding its e-commerce capabilities and improving its online shopping experience for customers. The company had been investing in technology and improving its supply chain to better compete with online retailers. Staples had also been expanding its services offerings, such as its Staples Print and Marketing Services, which offered custom printing and marketing materials for businesses.
Regarding its Hierarchy, Staples had a traditional corporate hierarchy with a CEO, executive team, and board of directors. Shira Goodman had served as the CEO of Staples from 2016 until its acquisition by Sycamore Partners in 2017. Before becoming CEO, Goodman had previously served as the President of Staples' North American operations.
In terms of major shareholders, the company's largest shareholder was the private equity firm Sycamore Partners, which acquired the company in 2017. Other major shareholders included institutional investors such as BlackRock, Vanguard Group, and State Street Global Advisors.
Staples' financial performance had been impacted by the shift to online shopping and digital office supplies, resulting in declining sales and profits. The company's stock price had reflected this decline, with a significant decline in the stock price in the years leading up to its acquisition by Sycamore Partners.
In conclusion, Staples, Inc. was a prominent office supply retailer that had faced significant challenges in a rapidly changing retail landscape. The company had been focused on adapting to the shift to online shopping and digital office supplies, but its financial performance had been mixed. Ultimately, the company was acquired by the private equity firm Sycamore Partners in 2017.