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, Avery Target Home Organization With Martha Stewart Line

By Joan E. Solsman Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Staples Inc. (SPLS) and Avery Dennison Corp. (AVY) officially launched a diverse line of products designed by Martha Stewart Living Omnimedia Inc. (MSO) Tuesday, pulling a facet of their business out of the office and into a home-organization market segment they say competitors aren't addressing well. Staples and Avery, which both reported overall weak sales in the recent quarter, said shoppers are ready for a less utilitarian, more discretionary type of office supplies, and the line--designed by Martha Stewart in partnership with Avery and sold at Staples--will meet that demographic. Officially launched Tuesday, the products have been available online unadvertised, according to a Staples representative. Timothy G. Bond, Avery's vice president for the office-products group, told Dow Jones Newswires the line's primary target is busy, multitasking women, which the companies say represent the largest group of office- and home-organization purchasers as well as an overwhelming chunk of home-based business owners. Of about 20 million home-based businesses, about 17 million are run by women, according to Demos Parneros, Staples president of retail stores. Bond also said that even though the economy is tough and jobs have been lost, "when the jobs start coming back, they start coming back in small businesses, many of which are run out of homes." Barclays analysts Tuesday also echoed points made by Staples and Avery about the line's potential appeal. With no national brand offering a complete home-office product line, they say the new products are in a good position to capture share of a $21 billion market for home-organization products. The analysts also said that after about one month of being available on and in stores, they believe sell-through of the product line has been strong. In the fourth quarter, Avery Denison's essentially flat revenue was short of analysts expectations. In the third quarter, Staples sales growth underperformed its targets; the company is scheduled to report fourth-quarter results later this month. The line also pulls Staples in a direction more in competition with the likes of Bed Bath & Beyond Inc. (BBBY) than Office Depot Inc. (ODP), as the Martha Stewart/Avery line offers labels specifically for the kitchen. Staples's Parneros said the products address "a true void" in the company's assortment, while Avery's Bond said the products would draw customer's association with the company out of office and into the home. In many cases, the Martha Stewart-branded products represent a premium. While the Staples brands of one-inch, three-ring binders range from about $3 to $8 depending on features and durability, a Martha Stewart three-ring binder--which has a faux-sharkskin cover--is priced around $10. Affixable note tabs from Martha Stewart and Staples both cost about $4 a pack, but the Staples-brand packs contain about 20% more tabs. However, some other products offer a price saving. Ruled sticky notes from the Martha Stewart line--in pastel colors and cut to have a flourish silhouette--break down to about $2 per pad, while the basic ruled sticky notes from Staples' brand in a similar size break down to $3 each. Staples also stressed that the line's aim for aesthetic appeal didn't infringe on functionality and affordability. A company representative also said the Martha Stewart products would be consolidated in stores, rather than on shelves in product-specific aisles, which would add an extra step for shoppers to make direct product price comparisons. Staples shares closed at $14.96 Tuesday, and Avery at $29.44. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;

Stock News for Staples (SPLS)
10/13/201507:00:00U.S. Workforce Knows How to Prevent the Flu but More than Half...
10/12/201510:10:00FTC Decision on Staples-Office Depot Deal Delayed to December
10/12/201509:35:00U.S. Hot Stocks: Hot Stocks to Watch
10/12/201509:21:10#1 Tech Deal Ever - Dell-EMC Details In M&A Daily
10/12/201508:17:55The FTC pushes back review on Staples-Office Depot merger
10/12/201508:05:00Staples, Office Depot and Federal Trade Commission Mutually Agree...
10/08/201513:30:00Staples Canada collects and diverts record 100,000 kilograms...
10/07/201512:40:00FTC Likely to Delay Decision on Staples, Office Depot Merger
10/01/201509:15:00Staples Offers More for Less with Amazing Deals and Convenience...
09/28/201507:00:00American Workers Need Their Cup (or Three) of Joe
09/26/201506:12:00Staples publie une déclaration concernant l’annonce par la Co...
09/26/201506:12:00Staples rilascia una dichiarazione riguardante l'annuncio della...
09/25/201509:27:14Current Report Filing (8-k)
09/25/201507:20:00EU Probes Planned Staples-Office Depot Merger
09/25/201506:40:00Staples Issues Statement Regarding European Commission Announcement...
09/22/201508:50:00Services Sector Equities under Review -- Staples, Avis Budget...
09/18/201516:57:06Statement of Changes in Beneficial Ownership (4)
09/17/201510:04:00Dow Jones Sustainability Index Recognizes Staples for 12th Consecutive...
09/15/201516:19:00Staples, Inc. Announces Third Quarter 2015 Dividend
09/10/201512:23:00Forget Your Wallet But Not Your Android Phone? That’s OK, Staples T...

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 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations