Boston, MA 05/21/2014 (wallstreetpr) – The strongest leaders in retail and delivery of merchandise, Staples, Inc. (NASDAQ:SPLS) has revealed its first quarter results. SPLS has reported a decrease in its sales with the announcement of a mixed result for its 1Q2014. However, it has released a series of strategies to increase its momentum in the coming quarters. It has also announced a release of new strategies for benefiting the small business customers by providing optimum resources and support for the development. Thus, SPLS is all set to disclose its target product line for specific consumer groups to resume its strong growth.
Release of 1Q2014 results
Staples, Inc. (NASDAQ:SPLS) has reported a fall in its company sales for the quarter that ended on May 5, 2014. It has registered a decrease of 3% in the company sales as compared to 1Q2013, thereby reporting a business of $5.7 billion. The downfall in its sales can be attributed to the closure of its stores immediately before the release of 1Q2014 results and fluctuations in foreign exchange rates. The Chief executive officer of SPLS, Ron Sargent, has remarked that the company is making progress towards meeting the diverse needs of the customers.
The 1Q2014 results highlight more investment by SPLS in “Make More Happen” brand campaign. The investment is made towards spreading more awareness amongst the consumers. SPLS has made significant growth in its mobile and desktop websites supply domain along with expanding its offering significantly in the North American Region. It is all set to achieve its target of cost savings of $500 million by closure of more 80 stores in North America by end of its second quarter.
Expanding Partnership
Staples, Inc. (NASDAQ:SPLS) has recently announced its partnership with Steelcase Inc. (NYSE:SCS) for catering to the needs of small business consumers. The partnership aims towards offering strong performance workplace furnishings on both its online portal and stores in the U.S. SPLS has also planned to release its line of Steelcase® tables and seating solutions. Thus, SPLS is making strong leaps towards catering to the specific needs of the consumers to resume its strong growth.
