FINANCE

Staples’ 4Q Profit Dips

BY CSA STAFF

Framingham, Mass. Staples Inc. said Tuesday that its quarterly profit was flat as international sales helped offset a slowdown in North American sales.

The office-supplies retailer reported fourth-quarter earnings of $333 million for the period ending Feb. 2, 2008, compared to $336.5 million a year ago.

The company’s quarterly sales rose to $5.32 billion from $5.29 billion. This increase was helped by a favorable currency translation from its overseas operations. However, sales at North American retail stores fell 4%.

Staples blames the decline on slowing job growth, the distressed U.S. housing sector, and credit-market jitters that have led small businesses to cut spending. Despite the slowdown, the company is sticking with plans to add 100 stores this year, compared with 120 last year, including 11 in Staples’ newest market, Denver.

During a conference call with analysts, Staples executives declined to take questions on whether the company might increase its $3.67 billion bid to acquire Netherlands-based Corporate Express NV, which swiftly rejected Staples’ unsolicited offer as too low on Feb. 19. However, some analysts expect an eventual agreement. The acquisition would expand Staples’ profitable segments serving business customers and overseas clientele after recent slow sales at U.S. stores.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

A&P adds ACE breads to select stores

BY CSA STAFF

MONTVALE, N.J. A&P has partnered with ACE Bakery, a leading artisan bakery supplier, to bring a select line of stone-ground whole grain breads to certain A&P, Waldbaum’s, The Food Emporium and Super Fresh stores.

According to A&P, it will be the first grocery chain to offer a dedicated whole grain bread product line.

“Studies show that eating more whole grains rather then refined grains reduces your risk of diabetes, helps you maintain your weight, and cuts your risk of stroke and heart disease.  ACE whole grain breads have been recognized by the Whole Grains Council as one of the wholesome, delicious ways for consumers to ensure they are getting the recommended servings of whole grains,” said Linda Haynes, co-founder of ACE Bakery.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

B&N unveils interactive book studio

BY CSA STAFF

NEW YORK Barnes & Noble has launched a new multimedia desitination on Barnes & Noble.com that features video and audio series geared toward bibliophiles. According to Barnes & Noble, the Barnes & Noble Studio (www.bn.com/studio) will include original content about books, readers and writers, complemented by user-generated material.

Barnes & Noble Studio will be the destination for book lovers. A place where readers will go for inspiration and discovery, to view and listen to content and recommend it to other readers who share their literary interests and passions, said Mike Skagerlind, vp and head of digital media for Barnes & Noble.com. Our programming celebrates the diversity and creativity that surround the world of books, authors and readers in a way that is useful, entertaining, and accessible. Barnes & Noble Studio will do for the book what the cooking show did for the recipe. 

Programs on Barnes & Noble Studio include, “Barnes & Noble Tagged!,” a Web series that focuses on the latest in book news, and “Book Obsessed,” a documentary-style series that examines the lives of passionate readers. Visitors to the Studio can also find book-related videos on a variety of genres including fiction, mystery and romance.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...