Staples Inc.
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This article may require cleanup to meet Wikipedia's quality standards. Please improve this article if you can. (May 2009) |
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| Type | Public (NASDAQ: SPLS) |
|---|---|
| Founded | 1986 |
| Headquarters | Framingham, Massachusetts |
| Industry | Retail |
| Products | Office supplies |
| Revenue | ▲ $27 billion USD |
| Website | www.staples.com |
Staples, Inc. (NASDAQ: SPLS) is the world's largest office supply retail store chain, with over 2,000 stores worldwide in 27 countries. The Framingham, Massachusetts-based company has catalog and delivery businesses and serves customers in Argentina (as Officenet), Austria, Brazil (as StaplesOfficenet), Canada (as Staples, in Quebec as Bureau En Gros), China, Denmark, France, Germany, India, Italy, Portugal, United Kingdom and the United States.
Staples, Inc. sells supplies, office machines, promotional products, furniture, technology and business services both in stores and online via Staples.com. The company opened its first store in Brighton, Massachusetts in 1986.
Quill Corporation is Staples most profitable division, acounting for nearly 25% of the company's net income. Between 1998 and 2009 Quill grew from $500 million in revenues to over $1.3 billion. The company is still one of Staples' fastest growing divisions and is led by Michael Patriarca, President of Quill Corporation.
The L in the logo is a stylized staple.
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[edit] History
The idea for Staples was created in 1985, while founder Thomas G. Stemberg was working on a proposal for a different business. He needed a ribbon for his printer, but was unable to obtain one because his local dealer was closed for the Independence Day holiday. A frustration with the reliance on small stores for critical supplies combined with Stemberg's background in the grocery business led to a vision for an office supply superstore.[1] The first store was opened in Brighton, Massachusetts in 1986. The 500th store was opened in Vero Beach, Florida, in 1996.
[edit] Office Depot merger
On September 4, 1996, Staples and Office Depot announced plans to merge. The Federal Trade Commission decided that the superpower would unfairly increase office supply prices despite competition from OfficeMax, because OfficeMax did not have stores in many of the local markets that the merger would affect.[2] Staples ultimately argued that chains such as Wal-Mart and Circuit City represented significant competition, but this argument did little to sway the FTC. Following the denial of the merger by the FTC, a rivalry has formed between the two companies.
[edit] Other events and milestones
- 1990 - Begins western U.S. expansion to Los Angeles area.
- 1991 - Helps found Canada’s first office superstore, The Business Depot LTD. First Business Depot store opens in Concord, Ontario Business Depot.
- 1992 - Enters the European marketplace, investing in retail companies in Germany and the United Kingdom.
- 1993 - Opens first store in the United Kingdom and launches Contract and Commercial division to serve multisite organizations and Fortune 1000 businesses.
- 1995 - Restructures Staples Contract and Commercial into Staples National Advantage and Staples Business Advantage.
- 1996 - Staples celebrates 10th anniversary and becomes Fortune 500 company while sales pass $3 billion.
- 1997 - Staples announces naming rights for Staples Center, Los Angeles' sports and entertainment complex sports stadium in Los Angeles.
- 1998 - Staples launches staples.com, acquires Chicago, Illinois based Quill Corporation and is named to the Standard & Poor's 500 Index.
- 1999 - Staples opens its 1000th store in Duluth, Georgia, launches StaplesLink.com for contract customers and launches in-store pack and ship services.
- 1999-2001 - Unsuccessful attempt to enter telecommunications arena - Staples Communications was formed after purchase of Claricom (formerly Executone) from an investment group - later sold to Platium Equities and renamed Nextira.
- 2001 - Staples becomes the first office supply superstore to integrate its e–commerce site into its retail locations nationwide.
- 2002 - Staples launches Staples Foundation for Learning and acquires Medical Arts Press, which becomes part of Quill Corporation.
- 2003 - "Staples. We make buying office products easy." is introduced as the new corporate brand promise, supported by the new tagline "Staples. that was easy.".
- 2004 - Staples enters the Latin American and Shanghai markets and expands European delivery business into Vienna, Austria and Denmark.
- 2005 - Staples premiers the Easy Button and begins selling Staples brand products in Stop & Shop and Giant supermarkets.
- 2006 - Staples celebrates its 20th anniversary, sales reach $18.2 billion and also acquires Thrive Networks, a Boston based Managed Services and Outsourced IT provider for small businesses.
- 2007 - Staples opens its first store in India; Staples also acquires American Identity, the United States' leading Promotional Products Distributor.
- 2008 - Staples acquires Dutch office supplies company Corporate Express, one of the largest office supply wholesalers in the world. [3] Staples also launches 11 concept stores in the New England area featuring a large focus on small business and technology related services.
[edit] Staples advertising
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Throughout most of the company's history, Staples employed, in its American commercials and advertising promotions, the slogan "Yeah, we've got that.", signifying their wide selection of products. This slogan was retired in 2003, to be replaced with "That was easy." Expanding on that theme, 2005 ads featured a large red push-button marked "easy". In the UK, Staples had used the slogan "You want it. We've got it"; they have now changed it to "That was Easy".
Following a television campaign featuring the 'Easy Button', it was turned into a real product (available in English "easy", French "simple", and Spanish "fácil"). These buttons were shipped to stores in the US and Canada starting in the fall of 2005.
The Staples Snowbot was an advertising character that appeared in the United States, in television and print advertising during the 2000 and 2001 Christmas seasons.
The Snowbot was a robot shaped like a snowman who refuses to let go of the inkjet printer he has fallen in love with. After the printer is wrestled from his grasp, the robot utters a monotone "Weeping. Weeping." He is consoled by a Staples employee who offers him a surge protector or a computer mouse (depending on the ad) instead.
The robot's "Weeping. Weeping." catchphrase briefly became a popular meme on the Internet, and the ad itself was parodied in an American 2002 Christmas ad for Dell Computers, in which a robot hassles a shopper (including striking him with a candy cane) when he attempts to purchase a PC at an unnamed office supplies retailer.
Another ad style is used during its annual back-to-school campaign, in which the Christmas song "It's The Most Wonderful Time of the Year" is played while parents joyously shop for school supplies for their children, used for several years beginning in 1994.[4]
Their 2007 Back to school campaign was "Totally organized. Totally Easy." and the 2007 Holiday campaign was "That holiday was easy."
During the 2008 holiday season, Staples advertising for the first time engaged Facebook, Twitter, YouTube and other social media platforms. The company created a character named "Coach Tom" to promote its “Gift it for Free” sweepstakes, in which 10,000 Staples customers won up to $5,000 in merchandise.[5][6]
[edit] Business ventures
- March 2005 - Staples, Inc. and Ahold announced a joint collaboration in which all Stop & Shop Supermarkets and Giant Food stores throughout the Northeast will have a Staples branded store-within-store section that will sell traditional school and home office products in addition to copy and photo paper, ink cartridges, and technology products. The Staples store-within-store section debuted in July 2005.[7] In August 2006, Ahold announced the addition of the Staples section to all Tops Friendly Markets locations as well. [8]
- 2002 - Staples acquired Medical Arts Press, a leading supplier in the United States of front-office and exam-room products for healthcare facilities, including medical, dental, chiropractic, veterinary, podiatric and eye care practices. Medical Arts Press carries over 18,000 products, including general office supplies, chart labels, end-tab folders, ink and toner, furniture, code books, postcards, breakroom supplies, and appointment books. It is Quill Corporation's most profitible business unit. Medical Arts Press has over $150M in annual revenues and is lead by Terry Schwarting.
- 2004 - Staples purchased British rival Office World from the Globus group. Rebranding of these stores to the Staples brand took place in 2005.
- 2007 - Staples acquired and created Staples Industrial/Chiswick markets and distributes industrial and retail packaging, shipping and warehouse products to thousands of small and mid–sized manufacturers, distributors and retailers throughout the US and Canada. The company offers over 7,500 industrial and retail packaging and shipping products, and their product line includes a wide variety of polyethylene bags, corrugated boxes, tape, labels, protective packaging, mailers, retail shopping bags and related packaging supplies. Sales channels include Catalog/Direct Mail, the Internet and Outside Sales.
- 2007 - Staples acquired Thrive Networks, an experienced IT services company that focuses on bringing Fortune 500–level IT support to small and mid–level businesses. The company provides 24x7 network monitoring and help–desk support, while delivering strategic technology consulting that helps customers achieve their business goals.
- 2007 - Staples purchased American Identity, one of the largest global distributors of corporate branded merchandise. American Identity has since been rebranded as Staples Promotional Products.
- 2008 - Staples acquired Corporate Express.
[edit] Environmental record
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Staples, a major corporation, is getting good reviews for its environmental efforts. Ranked in the top 25 of EPA’s Green Power Partner, Staples is making efforts towards a greater environment.[9] In 2006 Staples offered more than 2,900 different office products incorporating recycled content. Staples is currently trying to pursue developing Staples brand products with green raw materials. [10] Staples has been applauded by forest protection organizations for its annual environmental progress report. In response to a 2-year campaign targeting the company, Staples, Inc. adopted a landmark environmental paper procurement policy in which it committed to dramatically increase the amount of post consumer recycled paper made available for sale and to phase out products originating from endangered forests. [11] Staples also introduced an environmental paper procurement policy, formalizing the company's commitment to protecting forest resources through environmentally sound paper procurement practices. "This is a significant moment for Staples and our commitment to environmental stewardship," said Staples' vice chairman Joseph Vassalluzzo. "We are proud of our solid history of dedication to the environment that has brought us to this important milestone. We now embrace the work ahead toward realizing our environmental goals. [12]
[edit] Recycling
Beginning in May 2007, Staples began offering a technology recycling program, which allows customers to bring in old technology items, such as computers, printers, and monitors, and have them recycled for a $10 charge per item.
Staples accepts all used ink and toner cartridges for recycling. The customer will receive a $3 credit per cartridge (max 10 per month) returned, which is applied to the customer's Staples Rewards card and is in addition to the normal rewards on ink and toner purchases. Previously, this credit was given at the point of sale, however, this was changed to a credit to the customer's Staples Rewards card on February 19, 2008.[13]
As of February 1, 2009 Customers will be limited to recycling 10 ink cartridges a month for the $3 credit. However customers will now earn $3 for ANY brand cartridge unlike the previous program which limited the qualifying brands.
[edit] Community
In 2002, the company started the Staples Foundation for Learning, which supports youth groups and education. It also is a partner of Boys & Girls Clubs of America, Ashoka, Earth Force, Initiative for a Competitive Inner City, Hispanic Heritage Foundation and through Staples, ReadBoston.
In August 2005, Staples introduced the "Easy Button", a novelty item for offices which is advertised as a fun way of relieving stress. The button does nothing other than say "That was easy" when pressed. The first USD$1 million of profits each year from the Easy Button are donated to the Boys & Girls Clubs of America. It is currently for sale for USD $4.99-$5.99 in all US and Canadian stores (where profits go to Special Olympics in Canada) and on the company's website. Donations also go to the Children's Fund. Staples has reportedly sold more than $7.5 million worth of Easy Buttons.[14]
[edit] References
- Dalkir, S. and F. Warren-Boulton. 2003. “Market Definition and the Price Effects of Mergers: Staples-Office Depot (1997),” in The Antitrust Revolution: Economics, Competition and Policy. (John E. Kwoka and Lawrence J. White, eds.) Oxford University Press, 4th edition
- ^ "Supplies and Demand". Bulletin Online. Harvard Business School. 1996-12-01. http://www.alumni.hbs.edu/bulletin/1996/december/entre.html#stemberg. Retrieved on 2007-01-10.
- ^ "FTC WILL SEEK TO BLOCK STAPLES/OFFICE DEPOT MERGER". Federal Trade Commission. 1997-03-10. http://www.ftc.gov/opa/1997/03/staples.htm. Retrieved on 2007-01-10. A U.S. Court agreed. (Dalkir and Warren-Boulton, 2003.)
- ^ Reuters, June 12, 2008, Staples wins Corporate Express in $2.65 bln deal
- ^ Ramirez, Anthony (1995-01-26). "A wacky campaign pushes the envelope for abrasive humor". The New York Times (The New York Times Company). http://query.nytimes.com/gst/fullpage.html?res=990CE4DE1E3AF935A15752C0A963958260&sec=&spon=&partner=permalink&exprod=permalink. Retrieved on 2009-01-18. "Perhaps the most daring Staples spot was the back-to-school commercial broadcast in August. Filmed in a Staples store, of all places, the commercial pulled out the stops in abrasive bravado. As the Christmas song 'It's the Most Wonderful Time of the Year' plays in the background, an overjoyed father in baggy shorts and loafers dances down the aisles."
- ^ The Ellen DeGeneres Show, December 5, 2008
- ^ Mesulam, Sheila Black Friday, Naples News, November 23, 2008
- ^ "Stop & Shop/Giant Launch Staples Branded School and Home Office Supplies Sections". Ahold. http://www.stopandshop.com/about/news/staples.htm. Retrieved on 2006-10-03.
- ^ "Tops Markets partners with Staples to make one-stop shopping easy". Ahold. http://www.ahold.com/page/3986.aspx. Retrieved on 2006-10-03.
- ^ http://yosemite.epa.gov/opa/admpress.nsf/a883dc3da7094f97852572a00065d7d8/4199018af7e69d61852572cd004fc7b1!OpenDocument EPA Green Partners 4/30/07
- ^ http://www.staples.com/sbd/content/about/soul/environment.html Staples Environment
- ^ http://www.forestethics.org/article.php?id=800 November 21st, 2003
- ^ http://www.csrwire.com/PressRelease.php?id=1398 11/12/02
- ^ Staples Recycle for Education website
- ^ Gogoi, Pallavi (2006-12-07). "Staples Makes Selling Look Easy". Business Week. http://www.businessweek.com/bwdaily/dnflash/content/dec2006/db20061207_030398_page_2.htm. Retrieved on 2007-01-10.
[edit] External links
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Wikimedia Commons has media related to: Staples Inc. |
- Staples.com
- Staples Securities and Exchange Commission 10-Q filings
- STAPLES Center web site
- Yahoo! - Staples, Inc. Company Profile
- Staples UK
- Officenet / Staples in Argentina
- Officenet / Staples in Brazil
- Staples Promotional Products
