Article with perspective on the selling of brick and mortar.
http://www.retaildive.com/news/staples-spinning-off-retail-business/449556/
11 replies (most recent on top)
Is tomorrow the big day with store closing announcements and stores being sold to Office Depot
When will this happen and the large store closing?
wow. they've already gutted the company. that's impressive speed. current management must have had a plan already in place.
How is OD going to buy 900 Staples retail stores when they can barely run their own stores?
Proof is in the SEC filing, located here: http://investor.staples.com/phoenix.zhtml?c=96244&p=irol-sec#15153912
Page 18 Entitled "Carve out Transactions" :
"The purchase agreements between Staples and the acquirers of each Retail business have been reached and purchase prices are known, though the tax impacts of the form of the separation are still being evaluated. As the tax impact is not yet known, an estimate of the resulting tax gain or loss, if any, has not yet been reflected in these unaudited pro forma condensed consolidated financial statements."
The world going around is 300 stores closing in q3! The stores left will be sold to Office Depot.
Here's some money, Staples, so you can keep running things just the same way, because we care" - Sycamore
HAHAHAHAHAHAHAHA!!!!
They need to get rid of OP, MD,VS and other RVPs. A third of EMs need to be canned and combine districts and regions to save big payroll. None of these clowns are worth what they're paid.
If Staples has no issue firing GMs that made $70k firing VS should be common sense. He brings nothing to the table.
So some people actually believe that Staples being sold is a positive thing? That Sycamore is simply going to buy the company, split it for accounting reasons and let it function same as usual with the same leadership in place? Have you seen this company's retail sales? This is some serious denial. Very, very, very bad.
There isn't any proof. It's just as you said. The company is being split from an accounting perspective so that Sycamore can raise the funds necessary for the purchase.
It is clear from filings that the change will be divide for accounting and reporting purposes, however it is a big leap to say us and Canadian retail will be sold off. Even this article states to loose the customer "face to face" interactions that occur at the store would have a massive impact on the b2b sales. I have yet to see ANY evidence that the two divisions will be sold. If there is any actual proof, please post it