The worst unemployment rate in more than 25 years has started to affect Staples. Lower demand for computers and furniture has lead to a 14% drop in profit. [CNNMoney]
Post a comment
Comments:
Layoffs sure, and store closures,maybe. All retail stores profits are down. Don't forget that there main buisness is office and buisness supplies and they sell to corporate customers in a big way. They are not just selling computers and ipods to regular consumers. They aren't going the way of Circuit City any time soon which was really due to hilariously bad management.
I don't expect Staples, Office Max and Office Depot to all survive. In fact it's probably a good rule of thumb that any retail segment with 3+ national chains is going to lose at least one of them.
I really hope Staples can pull through this. They are my favorite office supply place. I just wish they would carry more things like Rhodia pads and Pilot Hi-Tec-C pens and such.
Their new M by Staples line is awesome!
Layoffs and store closures coming next I wonder?