Staples is a profitable company with superb brand recognition. This slowness in the economy will pass.
Having a PE below 10 is ridiculous, buy some now and put it away for a year or two and you'll make a few bucks. Don't think you have to make your money in 1 day, you will do well with Staples over the long pull,
I know I'm in great shape when people are laughing at long term (more than 2 week) value investing
Staples has the opportunity to send an extra $175mm straight to the bottom line through debt repayment alone in teh next 18 months. Company has never lost money and generates a ton of cash. Long term investors will likely be rewarded here.