STAPLES HAS ‘PLAN B’
In a nutshell: Even as Staples prepares to go it alone, the office supplies retailer says it still hopes to prevail in a government lawsuit aimed at blocking its takeover of rival Office Depot.
The upshot: “We’ve been working on Plan B for several months at this point,” CEO Ron Sargent said in a conference call with analysts Friday, though he didn’t say how itmight differ from Staples’ existing plan to close stores and expand its customer base.
The lowdown: The assessment came after Staples reported fourth-quarter results that missed management’s expectations, according to a post in ‘The Wall Street Journal.’ The company’s retail sales in North America dropped 5%, excluding newly opened and closed stores, as fewer shoppers visited its bigbox stores. The chain has more than 1,900 locations worldwide.