I would expect MUCH more aggressive closure of stores now, if not a complete sell off of the entire retail division. But who would want it? No one in retail NEEDS stores...
I wonder how many of the C-level execs will be replaced and how soon.
Grabbed this from another thread, this is my thinking as well. I am pretty sure that a number of stores that will be on the chopping block will rise significantly with Sycamore taking over.
A core of 600-700 stores could be saved if run correctly. Tech eliminated, Copy/Print staffed correctly and expanded and other core categories that radio shack left a void for in many towns without a Best Buy. By tech being eliminated I mean the selling of computers, the tech desk and all tablets gone. They can still sell though the attachments that people look for and have no outlet for in many medium based markets. Printers should be eliminated BUT NOT INK! In essence they need to make tech a convenience store atmosphere, just the basics. Office supplies should be reduced in variety but expanded in areas for children, teachers and professional WIFI provided desk stations for customers to rent on an hourly basis. They need to be creative to save brick and mortar. Staffing is an issue that should be addressed immediately in the remaining stores as that to me is the main reason staples lost its' core, labor was cut to far back and left no room for reasonable customer interaction. Regarding the senior management from RVP's up should be eliminated, they are the reason this company is in the situation it is. DM's should be given LARGE territories with market managers becoming more predominant. I know the above is a PIPE DREAM just some thoughts I saw as a GM that I would have done had I owned the store. HR needs to be replaced with real HR personnel that know how to motivate, train, evaluate and hire people. That was another area that lead to Staple's demise.
https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2017-05-16/loneliest-trade-a-wall-street-dealmaker-s-all-in-bet-on-retail
Interesting article about the founder of sycamore. From the article - he actually believed he can turn the company around but is highly leveraged with many retail deals, so it's probably a house of cards. If one area has a problem it could bring it all crashing down .... Then Staples would be auctioned of by the 3 divisions he is creating for financing.
TJX needs the space they are thriving in this environment
The office supply retail sector is dying a slow and miserable death. Amazon, Walmart, others sell the same crap at close to or lower than Staples and Depot. Staples missed the mark on this one, they should have been talking to Amazon. Amazon wants to be in the commercial game and they're looking to expand into having B&M. Looks like Depot maybe doing that.
Frankly, if you think this company will be better under a equity ownership think again. Store will close by the hundreds. Canada, retail, and commercial will be split into separate entities. These guys are going to want to quick return on their investment. You all better get your resume's in order and hit the streets.
I think they should close all restaurant and just deliver to your house? Retail is not dead.
PM&S is not that viable. No one needs it. Lots of options already available. Better options. Everyone needs to stop thinking that this company is worth anything more than the low price it was bought for. Broken off into segments, the private equity firm will make a killing. Sadly Staples couldn't figure out how they could've had any value.
It seems that the only viable option in the Retail division is their Print & Marketing department. Will they be spun off?
The executives have already destroyed the retail division by cutting payroll excessively, forcing loads of competent GM's out the door and pushing the stores to sell sh--ty and expensive services with absurd metrics. The stores are in a terrible state and too far gone to recover.
I totally agree. All the SVP/Rvp/DM's are looking for jobs now and the GM's. They will focus online only. Retail is dead!!