Retail Excellence- Staples
An office superstore with an eye on small business
Staples makes business look easy. It did, after all, reach a $14.4 billion sales milestone in 2004 and initiate its first-ever stock dividend to its shareholders. For the first quarter 2005, Staples saw a 13 percent sales increase over the same quarter 2004. While second quarter results were not available at press time, the company's first quarter sales announcement predicted an 18 percent earnings per share growth for the quarter and a low double-digital revenue growth for the full year, 2005.
Tom Stemberg founded the office superstore concept in 1986 with his first store in Brighton, Mass., Staples currently operates more than 1,600 superstores, serving its customers through mail-order catalog, e-commerce and contract business.