19.11.2014 - Staples will close 170 stores
Staples Corporation announced a reduction of sales in the quarter, which ended on November 1 by 2.5% to 5.96 billion dollars. Despite this, the company reported a profit of 216.8 million dollars, or 34 cents per share, from 135.2 million or 21 cents per share for the same period of the last year. It is worth noting that from the beginning of the year 127 low-income stores have been closed in North America and the company plans to increase this figure to 170. Given the policy of cost reduction and development of online sales as well as growth in consumer spending in the US, we expect increase in stock prices in the medium term with potential of increase by 25-30% per year.