Executive Briefings

In Closing Some Stores, Staples Bets on Multichannel Retail Strategy

Staples announced a strategic growth plan that will accelerate the growth of its online businesses, restructure its internal organization and reduce its retail square footage in North America by 15 percent by the end of fiscal 2015. The retailer projects these changes will produce approximately $250m in pre-tax cost savings during this period.

Staples will use the savings to increase investment in its online and mobile channels, expanding its digital assortments beyond office supplies to better serve the needs of business customers with product categories such as facilities and break room supplies, copy and print and technology products.

"Our vision is to establish Staples as the single-source product authority for millions of businesses," said Staples CEO Ron Sargent. "We are building on the strengths that are the foundation of our success by focusing on five key priorities: accelerate growth in the online businesses; fully integrate retail and online; improve retail store productivity; restructure our international operations; and return cash to stakeholders."

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Staples will use the savings to increase investment in its online and mobile channels, expanding its digital assortments beyond office supplies to better serve the needs of business customers with product categories such as facilities and break room supplies, copy and print and technology products.

"Our vision is to establish Staples as the single-source product authority for millions of businesses," said Staples CEO Ron Sargent. "We are building on the strengths that are the foundation of our success by focusing on five key priorities: accelerate growth in the online businesses; fully integrate retail and online; improve retail store productivity; restructure our international operations; and return cash to stakeholders."

Read Full Article