ADVFN - Advanced Financial Network.
HOME» NASDAQ » S » SPLS Stock Price » SPLS Stock News

Staples Share News

 Staples (mm) Stock Price
SPLS Stock Price
 Staples (mm) Stock Chart
SPLS Stock Chart
 Staples (mm) Stock News
SPLS Stock News
 Staples (mm) Company Information
SPLS Company Information
 Staples (mm) Stock Trades
SPLS Stock Trades

Staples CEO Doesn't See Another Recession

NEW YORK -(Dow Jones)- Staples Inc. (SPLS) Chief Executive Ron Sargent said the U.S. economy remains in "purgatory," but the threat of another recession is low. Sargent, speaking at the Goldman Sachs retail conference in New York, described the back-to-school season as "OK," and neither "robust" nor "a downer." Smaller rival OfficeMax Inc. (OMX), which will present at the conference later Wednesday morning, earlier Wednesday said its back-to-school season was "soft," and it now expects current quarter sales to be slightly lower than the year-ago period. Office Depot Inc. (ODP), also a presenter later Wednesday, separately said its third quarter will see comparable-store sales fall but margins improve, the result of eliminating popular but lower margin products like entry level laptop computers. Staples didn't provide new guidance for its fiscal third quarter, and Sargent said he continues to expect earnings for the fiscal year to grow 10% to 15% over last year. Staples' dividend yield of 2.9% is attractive at the stock's current prices, with shares at $13.63, which is down 27% over the past year. Sargent said it expects to raise the dividend in line with earnings and, at current prices, share repurchases might be the "best investment" it can make with its free cash flow. Addressing competition from Amazon.com Inc. (AMZN) and its cut-throat pricing, Staples said its rewards programs, with 10% and 15% discounts, make its prices for popular printer ink and toner cartridges competitive, but noted that price cuts may be in order. Staples still has room to grow its store base, the executive said, despite what many see as an office-supply sector suffering from a glut of retail locations. It doesn't have stores in markets like St. Louis, Buffalo, N.Y., Memphis, Tenn. and New Orleans, he said, but it will some day. -By Maxwell Murphy, Dow Jones Newswires; 212-416-2171; maxwell.murphy@dowjones.com

Stock News for Staples (SPLS)
DateTimeHeadline
07/21/201605:00:00Staples Canada Releases Top Trends, Must-Haves for 2016 Back-To-School...
07/19/201615:16:00Surprise Donation of More Than $185,000 from Staples Funds Local...
07/13/201612:51:00Staples Partners with Boys & Girls Clubs of America to Enable...
07/12/201612:18:00ADDING MULTIMEDIA Staples Rings ‘First Bell’ at NASDAQ to Kic...
07/12/201606:00:00Staples Rings 'First Bell' at NASDAQ to Kick Off Back-to-School...
07/12/201603:05:00Business Watch -- WSJ
07/11/201611:05:28Staples, Inc. (Nasdaq: SPLS) to Ring The Nasdaq Stock Market...
07/11/201610:00:00Staples Taps New President of North American Retail Operations
07/11/201607:00:00Staples Names Steve Matyas, President North American Retail
07/11/201606:57:00Staples Names Steve Matyas, President North American Retail
07/08/201607:00:00Staples Expands the Erin Condren Collection to Staples.com and...
07/05/201618:03:34Statement of Changes in Beneficial Ownership (4)
07/05/201618:02:38Statement of Changes in Beneficial Ownership (4)
07/01/201610:00:00Staples Business Advantage Announces Five Finalists, Opens Voting...
07/01/201608:35:00On BizWireTV: Virtual Reality Enters the Classroom and the Top...
06/30/201607:30:00Scanning Specialty Retail, Other Equities -- Office Depot, Alibaba...
06/30/201605:00:00Staples Canada Releases Q1 2016 Sustainability Achievements
06/29/201608:00:00Staples Brings New Accessories to 2016 Back-to-School Season...
06/28/201608:00:00Staples Showcases New Designed By Students Collection
06/23/201608:00:00Katy Perry and Staples Unveil Public Service Announcement to...

Staples and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad