By: REUTERS
Source: The Huffington Post
http://www.huffingtonpost.com/2014/03/06/staples-closing-stores-sales-fall_n_4910411.html?utm_hp_ref=business
Customers run the entirety of every single business. A business with absolutely no mean of financial income is bound to shut down. Large businesses and thrive on the familiarity and prestige of their company’s name. Staples is a name most office supply consumers are highly aware of. In the United States and Canada, approximately 1,850 Staples stores exist. Recently, this top ranking incorporation is dealing with major financial difficulty. It is no longer reaching enough revenue, thus causing the franchise to weaken and slowly deteriorate. A multitude of stores are deemed as useless due to insufficient funds. The retailer has become defeated and can no longer endure major rivals: Amazon and Office Depot. Its usual consumers are changing route and taking their business elsewhere to the more efficient and economically inexpensive retailer. Over 12 % of stores will be shut down. In all actuality, Staples has predicted that over 225 stores will be run out of business. Half of the problem’s source is due to online retailing, making the commute to stores pointless. Without the need of property, Staples Inc. has found that keeping certain stores alive and running is a futile waste. “Analysts said the store closures, which would take place by 2015, were unlikely to boost the company's results in the near term.”
It is somewhat sad to hear that most of our business is moving to the internet! Personally, I am a traditionalist who favors to go to the store and see the products myself. It is a shame that a once dominating corporation like Staples is heading for a decline. Hopefully, the one near me will not close down! Arus was able to crisply describe Staples' situation as she first explained the means of successfully running a company. She has written such an interesting and informative blog. Nice job girl!
ReplyDeleteI am actually a fan of Office Depot. I feel as though they provide better service and more variety in their stores. Even though there are 225 stores closing down, that should be it. The Staples by my house is doing fine and that one should not be closed even if the Office Depot, again by my house, is doing better. This was informative, Arus. I did not know any of this information before this blog. Wonderful job!
ReplyDeleteIt is unfortunate to hear a once thriving business is slowly going out of business. Staples is a useful store so it is a bit surprising to find out it is not doing well, but it also makes sense because internet is a big competition. Although it is odd to shop for school supplies online, seems a bit unrealistic. I hope the Staples by my house does not go out of business! Well written, Arus!
ReplyDeleteCorporations, such as Staples, should evolve and change with the time, economy, and new business practices. Unfortunately, Staples acted rather late on expanding their online services to the customers , while Amazon and Office Depot changed their practices immediately and expanded their online business, grabbing most of the market share, leaving Staples out in the cold.
ReplyDeleteI would have never been able to guess that a company such as big and successful as Stapes was having financial problems. Unfortunately online shopping has had a drastically negative effect on large and small department stores. Today, one can buy literally anything online for a more reasonable price than at local stores.
ReplyDeleteStaples is a huge company that offers it's customers reasonable prices for their merchandise. It is incredibly surprising to hear that this major store is dealing with financial problems. Online shopping has taken over many people's lives. Nowadays people can order food online as well. Staples should have been more careful and advanced their online business earlier just as Amazon and Office Depot did. Great topic, Arus! It was remarkably informative.
ReplyDeleteIt is shocking to hear a once successful company, such as Staples is going out of business. The vast supply store has numerous products ranging from notebooks to computers, but due to the huge rate in online shopping from opposing companies these products receive no more attention. The unfortunate and cold hard truth is that the new advancements in society are wiping away the old fashion of carrying out daily tasks.
ReplyDeleteIt is surprising that such a well-known company could be suffering so greatly. Staples was my go-to store and now I think that if it had made technological advancements like Amazon or Office Depot or even Target, then it would have also thrived. I both love and hate that everything is having an online route. This post was extremely well-worded and engaging to read. Great job, Arus!
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