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Persistent weakness at Staples reflects lingering economic challenges
A 3% same store sales decline at Staples North American retail units contributed to weaker than expected second quarter results and prompted the company to reduce its full year financial forecast.
Total company sales for the quarter ended August 3, declined 2% to $5.3 billion with the closure of 103 stores in North America and Europe responsible for about half the decline. Profits for the period declined to $104 million, or 16 cents a share, two cents worse than analysts forecast, compared to $125 million, or 19 cents a share the prior year.
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Park City Group bolsters leadership team
Park City Group, a leading consumer goods supply chain technology designed to increase sales and reduce out-of-stocks, has added private-label marketing veteran William Wolfe to its leadership team.
Wolfe, who has more than 30 years of experience, will serve as a senior adviser, responsible for developing business solutions, consulting and expanding sales efforts in the retail channel.