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Report: FTC ready to block Staples, Office Depot deal
The Federal Trade Commission is poised to block Staples Inc.’s proposed take-over of rival Office Depot, according to the New York Post.
The newspaper reported that federal regulators are "leaning against the deal and are preparing to block it."
According to the report, the FTC is mostly concerned that a merger between the two office supply retailers will result in a single nationwide giant to serve big corporate and government clients.
The FTC has until Dec. 8 to decide whether to sue to halt the deal after extending its review.
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The Carson effect evident at Books-A-Million
Guest appearances by Republican presidential candidate Dr. Ben Carson at Books-A-Million stores gave the retailer a modest sales lift in the third quarter.
The company said its sales increased 0.4% to $101.6 million and same store sales increased 1.6%, thanks in part to appearances by Republication presidential contender Dr. Ben Carson. However, signs of life on the top line did not translate to bottom line improvement as Books-A-Million reported a loss of $7.1 million, or 50 cents a share, that was in line with a loss from the prior year.
