14 Stories

Staples to Pay Office Depot $250M Breakup Fee

Merger is off after judge's ruling

(Newser) - Staples and Office Depot are scrapping their planned $6.3 billion merger after a federal judge blocked the deal, saying the government had made the case that the combination would likely hurt competition in office supplies, reports the AP . The Federal Trade Commission had sought to block the merger of... More »

2 Retailers Will Stay Closed on Thanksgiving

So far GameStop, Staples have made announcements

(Newser) - First there was the trend of stores opening on Thanksgiving itself to get a jump on the Black Friday sales; now, thanks to backlash, there's the trend of stores making big announcements to tout the fact that they will not be open on Thanksgiving. The two biggest names to... More »

Staples Grabs Office Depot for $6B

The deal values Office Depot at $11 per share

(Newser) - Look out, David: There's set to be an office-supply Goliath. Staples is buying Office Depot in a cash-and-stock deal valued at some $6 billion. The two have a combined 4,000 stores and do about $35 billion in sales each year. Office Depot Inc. shareholders will receive $7.25... More »

225 Staples Stores Get the Ax

That's 12% of its North American locations

(Newser) - Staples says it does nearly half of its business online these days, and by the end of next year, there will be fewer physical locations in competition with that. America's largest office-supply chain today announced that it will close up to 225 stores in North America by the end... More »

OfficeMax, Office Depot Talk Merger

Struggling firms seek boost against, you know, Amazon

(Newser) - OfficeMax and Office Depot could be close to a merger, the Wall Street Journal reports: They're deep into talks and, while there are no guarantees, they could announce the deal within days. The arrangement would likely be via stock trade. Both companies have struggled over the past few years... More »

Beyond the Small Screen, Dunder Mifflin a Big Hit

TV show-inspired paper actually selling

(Newser) - Super-salesman Dwight Schrute can only claim partial credit for this sale: A year after started hawking Dunder Mifflin-branded copy paper, the stuff is really selling. In fact, the paper, named for the fictional company that Dwight, Jim, Pam, and the gang all work for in Scranton, is now... More »

What Bain Capital Taught Me

Mitt Romney on how his time in business prepared him for presidency

(Newser) - If you're shopping for school supplies at Staples this fall, you can thank Mitt Romney, the presidential candidate reminds readers in today's Wall Street Journal . Staples was "one of many businesses we helped create and expand at Bain Capital," he writes. "The lessons I learned... More »

Coming Soon: Real Dunder Mifflin Paper

The Office firm to put 'quabity first' in Staples deal

(Newser) - Fans of the Office will soon be able to buy paper made by their favorite company—though instead of purchasing it from Dwight Schrute, they’ll have to get their reams through Staples. The office-supply giant’s has reached a licensing deal with NBCUniversal to sell Dunder Mifflin... More »

Your Lowly Penny Can Actually Buy Something

Retailers lure back to school shoppers with 1¢ gimmick

(Newser) - Retailers, scrambling to connect with the fragile consumer psyche, have turned to the lowly penny for a boost, offering everything from clothing to crayons for a single cent, the LA Times reports. Nearly taken out of circulation three years ago, the penny may be a lousy coin, but it’s... More »

Back to School Sales in Slump

(Newser) - Retailers are seeing the slowest back-to-school season in many years as consumers cling to their cash, the New York Times reports. Estimates on sales, an early indicator of how stores will fare in the holiday season, show declines of 3 to 8% from last year, which saw a 1% increase.... More »

When These Companies Recover, We Recover

The signs of the turnaround will come from everyday businesses

(Newser) - The companies best-positioned to weather the recession are market-share leaders or those that sell everyday necessities, writes Douglas A. McIntyre in Newsweek. But the economic bellwethers that will herald the recovery are more likely No. 2 or No. 3 in their industries, like Target, whose quarterly numbers should indicate when... More »

Losses Continue for 2nd Day

Stagflation stalks the Street; retailers post poor results

(Newser) - Stocks fell today for a second straight session as doubts about financials persisted and economic news painted gloomy outlooks on inflation and housing, MarketWatch reports. Disappointing quarterly reports from the retail sector made a bad situation worse. The Dow fell 130.84 to 11,348.55, the Nasdaq 32.62... More »

Romney Tussles With Reporter

In SC, journalist challenges candidate about lobbyist

(Newser) - Mitt Romney had a dust-up with a reporter in South Carolina today, CBS News reports, when the reporter essentially accused the candidate of lying. As Romney was saying he was not beholden to lobbyists and didn’t have one “running his campaign,” the reporter interjected, “That’s... More »

Advertisers Dump Imus

Procter & Gamble and others pull ad dollars after racist comment

(Newser) - Piling on to the mounting outrage against Don Imus, three advertisers have pulled their support from the CBS radio show or its simulcast MSNBC TV program. The three include marketing heavyweight Procter & Gamble, Staples and Bigelow Tea, the Wall Street Journal reports. More »

14 Stories