Quick summary: Staples stock (former ticker: SPLS) was taken private in 2017 and is no longer available as a stock to trade. The company struggled in its final years as a public company before finding a private equity buyer in Sycamore Partners. Introduction: What Happened to Staples Stock?
Full Answer
What is Staples'(SPLs) stock price?
Staples trades on the NASDAQ under the ticker symbol "SPLS." What is Staples' stock price today? One share of SPLS stock can currently be purchased for approximately $10.25.
What is Staples'stock price and ticker symbol?
What is Staples' stock symbol? Staples trades on the NASDAQ under the ticker symbol "SPLS." What is Staples' stock price today? One share of SPLS stock can currently be purchased for approximately $10.25.
How much is a share of Staples worth?
One share of SPLS stock can currently be purchased for approximately $10.25. What is Staples' official website? The official website for Staples is www.staples.com. Where are Staples' headquarters?
Is Staples owned by insiders?
Only 0.72% of the stock of Staples is held by insiders. 85.56% of the stock of Staples is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Is Staples a good dividend stock? Staples pays an annual dividend of $0.48 per share and currently has a dividend yield of 0.00%.
Is Staples on the stock market?
Staples trades on the NASDAQ under the ticker symbol "SPLS."
How much is Staples stock today?
12/09 -Closed....Trending Stocks.NameModernaHigh151.10Low139.54Chg.+7.10Chg. %+4.97%14 more columns
Who owns Staples now?
Sycamore PartnersStaples / Parent organizationSycamore Partners is a private equity firm based in New York specializing in retail and consumer investments. The firm has approximately $10 billion in aggregate committed capital. Wikipedia
Is Staples public or private?
PrivateStaples Inc.Logo since 2019Store in Saugus, Massachusetts, November 2012TypePrivateIndustryRetailFoundedMay 1, 1986 Brighton, Massachusetts, U.S.11 more rows
How is Staples doing?
Sales for office staples such as printer ink and toner rose 129% in 2020 at mass merchants including Walmart, Sam's Club, Target and Costco, according to analytics firm 1010data. That fell somewhat (15%) in 2021 but remains up 95% over 2019 levels.
Did staples go out of business?
Staples Inc., the Framingham-based office supplies retailer, is no longer a public company after private equity firm Sycamore Partners said it completed its $6.9 billion acquisition of the company. GAIN ACCESS TO EVERY LOCAL INSIGHT, LEAD AND MORE!
Is Staples going to buy Office Depot?
The parent company of Staples remains determined to acquire its chief rival. USR Parent reaffirmed its proposal to acquire the consumer business of the ODP Corp., parent of Office Depot and OfficeMax, for $1.0 billion in cash. The proposal was delivered to the company on June 4, 2021, and remains unchanged.
Is Staples being sold?
Staples, sold itself to the private equity firm Sycamore Partners in 2017 for $6.9 billion. Staples filed for antitrust approval to acquire Office Depot's consumer division in November in hopes of clearing the path for such a deal.
Is Office Depot being bought out?
USR Parent in November, 2021 said its non-binding $1-billion cash offer to purchase ODP's consumer business, including its Office Depot and OfficeMax retail stores business, the Company's direct channel business, and the Office Depot and OfficeMax intellectual property, including all brand names, remained in play.
When did Staples go public?
1989Staples has had some success being owned by private-equity. The chain was backed in the 1980s by Bain Capital, the private-equity firm co-founded by Mitt Romney. Bain made a fortune when Staples went public in 1989.
When did Sycamore buy Staples?
2017On Tuesday, Sycamore pulled off a $5.4 billion refinancing of Staples Inc., which it bought in 2017, that funded a staggering $1 billion dividend to the private equity firm.
Does Sycamore partner own Staples?
Sycamore, a private equity firm, has owned Framingham-based Staples since 2017, having acquired it for $6.9 billion.
Is Staples a good dividend stock?
Staples(NASDAQ:SPLS) pays an annual dividend of $0.48 per share and currently has a dividend yield of 0.00%. View Staples' dividend history .
Who are Staples' key executives?
Staples' management team includes the following people: Robert E. Sulentic , Independent Chairman of the Board Shira D. Goodman , President, Chi...
Who are some of Staples' key competitors?
Some companies that are related to Staples include Tractor Supply (TSCO) , Ulta Beauty (ULTA) , Five Below (FIVE) , DICK'S Sporting Goods (DKS)...
What other stocks do shareholders of Staples own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Staples investors own include Ford Motor (F) , Twitter (T...
What is Staples' stock symbol?
Staples trades on the NASDAQ under the ticker symbol "SPLS."
What is Staples' stock price today?
One share of SPLS stock can currently be purchased for approximately $10.25.
How can I contact Staples?
Staples' mailing address is 500 Staples Dr, PO Box 9328, FRAMINGHAM, MA 01702-4478, United States . The official website for Staples is www.stapl...
A disappointing outcome
A decade ago, Staples shares traded for about $25. Even as recently as early 2015 -- shortly after Staples reached a deal to buy Office Depot -- the stock was worth $15-$20.
Did Sycamore overpay?
Not surprisingly, some Staples shareholders think that Sycamore Partners isn't paying enough for the office supply giant. However, given the secular headwinds facing Staples, other observers contend that Sycamore Partners is making a mistake by buying Staples at all.
Cash is king
Looking ahead, if Sycamore Partners is able to complete its buyout of Staples, maximizing cash flow should be its No. 1 priority.
Ownership
- On Wednesday evening, Staples (NASDAQ:SPLS) announced that it had agreed to sell itself to private equity firm Sycamore Partners for $6.9 billion, or $10.25 a share. This confirmed months of rumors that Staples planned to go private. Assuming that shareholders approve the deal, Staples expects the sale to close by year-end. A decade ago, Staples shares traded for about $2…
Trivia
- This buyout is definitely a consolation prize compared to Staples' previous plan to buy its main rival, Office Depot (NASDAQ:ODP). But with federal regulators having quashed that deal last year, going private was probably the best remaining option for Staples.
Sales
- Indeed, comparable-store sales for Staples' North American retail operations declined 5% last year and fell 6% in the first quarter of fiscal 2017. Furthermore, while growth in its North American delivery segment (which produces the majority of its revenue and profit) had been insulating Staples from weak in-store sales, comp sales turned negative in the delivery business last quarter.
Analysis
- Analysts expect Staples to post adjusted earnings per share of $0.88 this year and $0.87 in fiscal 2018, down from $0.90 last year. Of course, it's possible that Staples would have surpassed Wall Street's expectations. But with key aspects of its business in secular decline -- such as selling ink, paper, and computers -- it's equally possible that ...
Criticism
- Not surprisingly, some Staples shareholders think that Sycamore Partners isn't paying enough for the office supply giant. However, given the secular headwinds facing Staples, other observers contend that Sycamore Partners is making a mistake by buying Staples at all. After all, the company lost money last year, based on generally accepted accounting principles. Staples also …
Effects
- In addition, for a buyout fund, cash flow is far more important than accounting measures like net income. Staples posted free cash flow of $679 million last year, despite a $210 million headwind from merger termination costs. For 2017, Staples expects to generate at least $500 million of free cash flow. Given that it produced $221 million of free cash flow in the first quarter, this forecast …
Benefits
- Thus, Staples produces ample free cash flow to cover the high interest costs that will come from going private. If it can sustain its strong cash flow during the next five to seven years, Staples should also be able to pay down debt steadily and generate good returns for Sycamore.
Future
- It will still be important for Staples to invest money to maintain its stores and improve its e-commerce capabilities. However, it should continue to downsize its retail footprint in the next few years, which will reduce capex needs. Staples has already cut its store count in North America by 20% since the beginning of 2012, and the leases for about half of its remaining fleet will expire w…
Risks
- The Staples buyout could be a lucrative deal for Sycamore Partners -- but there's also a very real risk that it will lose a lot of money. This suggests that the $6.9 billion purchase price may be appropriate, after all.