staples inc (SPLS) Key Developments
Staples to Close Local Store at 1927 Dorothy Lane in Moraine
Jul 16 15
The Staples store at 1927 Dorothy Lane in Moraine will shut down permanently on Sept. 12 as part of the company's plan to shutter 225 nationwide. The number of employees who will be affected by the closing was not immediately available.
Staples, Inc. Declares Second Quarter 2015 Cash Dividend Payable on July 16, 2015
Jun 1 15
Staples, Inc. announced that its Board of Directors has declared a quarterly cash dividend on Staples, Inc. common stock of $0.12 per share. The dividend is payable on July 16, 2015, to shareholders of record on June 26, 2015.
Staples, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended May 2, 2015; Announces Impairment of Long-Lived Assets for the First Quarter Ended May 2, 2015; Provides Earnings Guidance for the Second Quarter of 2015 and Free Cash Flow Guidance for the Full Year 2015
May 20 15
Staples, Inc. announced unaudited consolidated earnings results for the first quarter ended May 2, 2015. For the quarter, the company reported sales of $5.3 billion against $5.7 billion a year ago. GAAP operating income was $98 million against $159 million a year ago. Income before income taxes was $84 million against $148 million a year ago. Net income was $59 million or $0.09 per basic and diluted share against $96 million or $0.15 per basic and diluted share a year ago. Net cash provided by operating activities was $300 million against $359 million a year ago. Acquisition of property and equipment was $60 million against $48 million a year ago. Non-GAAP operating income was $173 million against $183 million a year ago. Non-GAAP income before income taxes was $163 million against $172 million a year ago. Non-GAAP net income was $109 million or $0.17 per diluted share against $115 million or $0.18 per diluted share a year ago. Non-GAAP sales were $608 million against $589 million a year ago. Free cash flow was $240 million against $311 million a year ago. First quarter 2015 results on a GAAP basis include pre-tax charges of $45 million related to restructuring and related activities, $22 million of impairment primarily related to certain information technology assets, $15 million related to the acquisition of Office Depot, and a pre-tax gain of approximately $3 million related to the sale of assets. Total company non-GAAP operating income rate increased 6 basis points to 3.29% from an operating income rate of 3.23% achieved during the first quarter of 2014. This increase primarily reflects increased gross margin rate in North American Stores and Online, as well as reduced rent expense primarily related to store closures over the past year. The increase was partially offset by the negative impact of fixed expenses on lower sales.
For the quarter, the company announced impairment of long-lived assets was $22 million compared to $22 million a year ago.
For the second quarter of 2015, the company expected sales to decrease versus the second quarter of 2014. The company expected to achieve fully diluted non-GAAP earnings per share in the range of $0.11 to $0.13 for the second quarter of 2015. This guidance excludes any potential impact on earnings per share related to restructuring and other related activities or costs related to the company’s planned acquisition of Office Depot.
For the full year 2015, the company expected to generate more than $600 million of free cash flow. The company planning was for non-GAAP effective tax rate to be 33.5% for the remainder of 2015.
STAPLES to Offer Both Pioneering's SmartBurner and Safe-T-Sensor Products in the United States Through its Advantage Facility Solutions Group
May 13 15
Pioneering Technology Corp. announced that STAPLES will now offer both Pioneering's SmartBurner and Safe-T-sensor products in the United States through STAPLES Advantage Facility Solutions group, a commercial business to business (B2B) division of STAPLES Inc. Safe-T-sensor was engineered to help prevent microwave cooking fires and the false/nuisance alarms created by microwave cooking (student dorm rooms, office towers, hotels, hospitals and senior's residences) that result in dangerous situations. Safe-T-sensor also delivers a significant return on investment in these B2B channels by eliminating the lost productivity associated with false/nuisance alarms that result in building evacuations and fire service runs.
Staples, Inc. Signs Two Partnerships to Expand Presence in South Africa and Romania with Bidvest Waltons and Dacris
May 13 15
Staples, Inc. announced that it has entered into a partnership with Bidvest Waltons and Dacris, a distributor of office supplies in Romania, thereby expanding its presence in the EMEA region. According to Staples, these partnerships will enable its customers with global presence to further extend their global procurement programmes through a single source solution and thereby simplify ordering processes, identify ways to reduce overall costs and gain better insights into their spending trends.