The article on "The Street" states the obvious. Staples nor Office Depot is any match for Amazon. With Amazon having a commanding lead on sales there is nothing that is stopping them.
www.thestreet.com/story/14034669/1/office-supplies-can-t-catch-a-break-staples-sinks-6-4-on-earnings-report.html
"Amazon is a terrible company too. I don't shop either."
Below was from Staples public records online. They have drug this lawsuit on for more than 5 years. They are in the wrong. Is this ethical? I will take the lesser of 2 evils and shop Amazon.
In 2012, plaintiff Bobby Dean Nickel filed an employment discrimination lawsuit against the Company and its subsidiary, Staples Contract & Commercial, Inc. The lawsuit alleged that Nickel’s 2011 termination was based on his age (over 40). In August 2013, the trial court denied summary judgment on the age discrimination claim, but granted it as to all other claims. On February 26, 2014, after trial, the jury returned a verdict in plaintiff’s favor, awarding him approximately $3 million in compensatory damages and approximately $22 million in punitive damages. The Company filed a series of post-trial motions asking the trial court to vacate the jury verdict and order a new trial or, if the verdict is not vacated, to reduce the amount of damages awarded through the process of remittitur. The trial court granted judgment notwithstanding the verdict as to the punitive damages assessed against Staples, Inc., reducing the total judgment to approximately $16 million . The trial court also awarded Nickel approximately $1 million in attorneys’ fees and costs. The Company filed an appeal with the California Court of Appeal in November 2015 and the matter was heard in April 2016. On May 26, 2016, the Court of Appeal ruled against the Company, and subsequently denied the Company’s Request for Rehearing. On July 5, 2016, Staples filed a Petition for Review with the California Supreme Court. On July 19, 2016, Nickel filed his Answer to the Petition for Review and on July 28, 2016, Staples filed its Reply to Nickel’s Answer to the Petition for Review. The Supreme Court denied the petition for review on August 10, 2016. Staples subsequently paid approximately $22 million to satisfy the outstanding judgment, including interest and Nickel's attorney's fees and costs.
It is definitely a rollercoaster ride. I was on that ride from July 2000 until 2015. It was definitely going downhill since CE was brought on! There were some good people, but there were some bad people as well.
What a greedy f-in company. This is what happens when some old a-hole is in charge for several years and don't do sh--. If have a business you got to invest back in to the business. That's what wrong with a lot people these days there are set in there old ways. This is proof it does not work wake up stock holders. Start paying attention from 30 a share to 8 ?
Amazon is a terrible company too. I don't shop either.
https://sites.google.com/site/thefaceofamazon/home
Still chance of a buyout by Amazon to Consider when holding stock. But certainly do NOT buy anymore stock at this point.
Amazon expressed in Office Depot so it's entirely likely they could be discussing staples buyout with upper management right now.
This company is on death watch. I got out a few months ago and it was the best day of my life. I don't even shop there anymore.
I wasted 17 years on this company. My average stock buy-in price is $14, so I've lost almost half of my savings for retirement. I don't want to make a killing, I just want my original money back, if the stock can just get back to $14. Damn. They must be working on some kind plan, they won't just let this sink.
https://www.thestreet.com/story/14034669/1/office-supplies-can-t-catch-a-break-staples-sinks-6-4-on-earnings-report.html
All the above very accurate. I am amused by the fact that some are watching the spls go up a little this morning. On Wall Street this is commonly referred to as a, "dead cat bounce".
Staples never figured out how to compete in changing times. And with the same ole people still in charge, there is no way that they will, all of a sudden, figure it out now. It's too late. Staples failed. It's over. Staples lost.