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Staples Executive Summary

1392 Words6 Pages

The dollar amounts listed in the both charts above are in reference to millions. Staples’ 2016 fiscal year ended on January 28, 2017 and the second quarter for 2017 ended on July 29, 2017, both of which is where figures were pulled from. On the annual 10-K report for 2016, it was recorded that there are 1,255 retail stores in the United States, 304 retail stores in Canada, 14 retail stores in Argentina, 9 retail stores in Australia, and 1 retail store in Brazil. All of which gives a grand total of 1,583 fully operational retail stores for Staples. And of that amount, 70 retail stores will be closed this year in North America.
Recent historical financial aspects. Staples has not been able to pull itself up out of the red for quite some time …show more content…

With its given financial troubles, due to several failed opportunities including international expansion issues and two failed separate business ventures with Office Depot, Staples was not effective in redeeming themselves. As a remedy to seek alternative ways in successfully transforming, Staples sold itself to a privately owned company, Sycamore Partners for approximately $7 million (“Form 10-Q, n.d.). And as a result of this, it is no longer a publically traded company and its stock information will no longer show up on Nasdaq as the sale was completed on September 12, 2017 (“Form 10-Q, …show more content…

In 2017, there are so many other approaches and platforms that companies can take to market products to customers. In the past, traditional marketing methods did prove to be successful for companies, but with changing times they have needed to become more adaptable to fresher ways which includes social media and digital marketing. Social media platforms such as Facebook, Instagram, Twitter, Pinterest, and YouTube have become important sources of marketing over the last few years. Staples has utilized it as best as they possibly can to engage their customers and make things interesting, but no matter how best it is done problems can still come about. Problems that can arise with using social media for marketing purposes are that there are no ways of companies to target customers specifically to demographic categories and the content is limited to the amount of what can be written on a posting at times (Gaille,

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