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Staples Inc (SPLS.OQ)

SPLS.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Staples names Steve Matyas, President North American Retail
Monday, 11 Jul 2016 06:57am EDT 

Staples Inc :Staples names Steve Matyas, President North American Retail.  Full Article

Staples says sets quarterly cash dividend of $0.12 per share
Tuesday, 14 Jun 2016 04:45pm EDT 

Staples Inc - :Sets quarterly cash dividend of $0.12 per share.  Full Article

Staples to roll out same-day delivery service "staples rushSM"
Tuesday, 14 Jun 2016 06:57am EDT 

Staples Inc : Staples to roll out same-day delivery service "staples rushSM" . Service live in parts of Boston, Dallas, and Manhattan with Chicago, Houston, Los Angeles, San Francisco and Seattle to follow shortly .Customers placing orders by 3:00 p.m. Local time Monday - Friday on staples.com can have orders delivered by 7:00 p.m., initially for $14.99/delivery.  Full Article

Staples names Shira Goodman interim CEO
Tuesday, 31 May 2016 04:20pm EDT 

Staples Inc : Staples announces management transition . Says Shira Goodman, Staples' president, North America operations, will become interim chief executive officer . Process to identify a permanent CEO will be led by a special committee of board which will consider both internal and external candidates . Board of directors of Staples and Ron Sargent have mutually agreed that he will step down from position of chief executive officer .Sargent will continue to serve as a director and non-executive chairman through company's 2016 fiscal year ending on January 28, 2017.  Full Article

Staples to meet with potential buyers of European operations in coming weeks - conf call
Wednesday, 18 May 2016 09:17am EDT 

Staples Inc : To pay $250 million termination fee to office depot on Thursday - conf call . Expect non-office supplies sales to account for 60 percent of total revenue over next 3 years - conf call . Expect North America to account for 95 percent of total sales over next 3 years - conf call . In coming weeks expect to meet with potential buyers for European operations - conf call .Don't expect top line growth this year - conf call.  Full Article

Staples says to record aggregate losses of about $17 mln-$22 mln during Q3, Q4
Wednesday, 18 May 2016 06:36am EDT 

Staples Inc : During q1, recorded restructuring charges of $11 million primarily related to lease obligations for closed retail stores - sec filing . Expects payments related to employee related liabilities to be substantially completed by end of q1 2017 . Anticipates that payments related to facility lease obligations will be completed by the end of fiscal year 2025 . As a result of the sale of staples printing solutions, the company plans to settle sps's pension obligations and terminate its pension plan .To recognize aggregate losses of about $17 - $22 million during q3, q4 of 2016 as staples printing solutions-related settlements occur.  Full Article

Staples says in Q1 2016 and 2015, incurred expenses of $24 mln and $11 mln in connection with proposed deal to buy Office Depot
Wednesday, 18 May 2016 06:00am EDT 

Staples Inc : In first quarters of 2016 and 2015, company incurred expenses of $24 million and $11 million in connection with proposed deal to buy office depot .Expects to incur additional professional service fees in q2 of 2016 related to proposed deal with office depot.  Full Article

Staples reports Q1 GAAP earnings per share $0.06
Wednesday, 18 May 2016 05:43am EDT 

Staples Inc : North American stores and online sales for Q1 of 2016 were $2.2 billion, a decrease of five percent . Total company sales for Q1 of 2016 were $5.1 billion, a decrease of three percent . Q1 North American stores and online comparable store sales decreased four percent . Q1 GAAP earnings per share $0.06 . Q1 non-GAAP earnings per share $0.17 excluding items . Q1 North American stores and online comparable sales decreased three percent versus prior year . Sees Q2 2016 non-GAAP earnings per share $0.11 to $0.13 . For full year 2016, company expects to generate approximately $600 million of free cash flow excluding items . Company plans to close at least 50 stores in North America in 2016 . For Q2 of 2016, company expects sales to decrease versus Q2 of 2015 . Earnings guidance excludes costs related to company's proposed acquisition of Office Depot and costs related to deal breakup . Q1 earnings per share view $0.16, revenue view $5.09 billion -- Thomson Reuters I/B/E/S . Q2 earnings per share view $0.12, revenue view $4.78 billion -- Thomson Reuters I/B/E/S . Q1 2016 results on a GAAP basis include pre-tax charges of $66 million . Q1 2016 results also include $32 million charge related to pending sale of company's print solutions business.  Full Article

Staples says amends a credit agreement
Monday, 16 May 2016 05:57pm EDT 

Staples Inc : Entered into amendments to credit agreement, dated as of May 31, 2013, by and among Staples, lenders , and Bank Of America . Amendment amends credit agreement to modify definition of consolidated EBIT to reset $100 million extraordinary and nonrecurring cash charge .Amends definition of consolidated EBIT to add back transaction costs of up to $300 mln in connection with termination of acquisition of Office Depot.  Full Article

Office Depot terminates merger agreement with Staples
Monday, 16 May 2016 04:30pm EDT 

Office Depot Inc : Office depot announces termination of merger agreement with staples . Executes $1.2 billion five-year extension to its credit facility . Finalizing comprehensive business review . Will receive $250 million termination fee from staples . Additionally, company is analyzing various capital structure and shareholder return alternatives . Analyzing various capital structure and shareholder return alternatives . Engaged bain & company to assist with finalizing a comprehensive strategic review of its business . Announced that it has successfully extended its asset-based credit facility for an additional five years . New $1.2 billion facility will mature on may 13, 2021 . Will host a webcast and conference call with analysts and investors today at 5:15 p.m. Eastern time .Office depot announces termination of merger agreement with staples.  Full Article

BRIEF-Staples names Steve Matyas, President North American Retail

* Staples names Steve Matyas, President North American Retail Source text for Eikon: Further company coverage: