If you work at ODP, get your resume out now. Staples management will not even consider you. take the first package they offer or expect a pay cut. Staples is an awful, awful place to work.
Kimwang56- I am not an employee but rather someone who has followed the stock for some time. I will back up my point by asking you to follow the trend line since 2007 and you will see that the stock has steadily declined. They have eroded all potential shareholder value by mismanaging this deal, particularly through their arrogance in Europe and Australia. They turned profitable companies (particularly Australia) into loss making ones by insisting the staples way is the only way.
I say this every quarter. It is time for a leadership change. New marketing trying to make Office supplies sexy and hip is not going to change the fact that this company is tired and poorly run. RS has continued to sing the same story about changing the model by adding new SKU's but the reality is this company killed itself years ago with the CEXP acquisition. They lost all of their momentum and have never recovered. Their management is poor and they are trying to stick with the same tired messages internally. They need to sweep the entire leadership team out over the next few years and bring in new leadership with ideas that will work. Management by intimidation is not a strategy. It is very clear to all that know the inner workings of this company that they are now in the death spiral just like ODP was a few years ago. how many more years will they continue to make earnings by cost cutting and taking charges to cover severance costs?
I am shocked that the Board Of Directors is not acting at all to replace Ron S. He is past his prime and is now looking like a sad figure. This ship is sinking fast and has no hope for turnaround and needs to be taken private. It will never be a growing company with the current leadership replaying the same tired strategy. You need fresh ideas and new leadership. The front line organization has now tuned management out 100% and are all fearful of the jobs. They are showing all of the signs of the death spiral. How long can you continue to work for a company that is constantly cutting staff? after a while, you lose faith in leadership when your comrades are all going away (with terrible severance packages by the way)
Seriously???? This woman has bounced unsuccessfully from job to job over the last 10 years and brings absolutely NOTHING to the table. She is at best a person who is completely out of touch with the front line where things get done and joins NR as the most out of touch executives in the industry. It is now abundantly clear that this is a 100% rudderless ship and that Ron is surrounding himself with his talentless buddies. These moves will only further erode on the incredibly low morale in this dead company. Sargent should resign and his replacement should clean house.
And again no changes from management of consequence. Only more layoffs and another reinvention. Why is this board not acting to remove the current management? It is pathetic that they are using slowing demand as an excuse for the fact that they are no longer taking market share. Do you think WB Mason is making excuses while their sales are up this year? The fact remains that someone needs to be held accountable at this company. They need to do something different. Look at the results for International? Is there any improvement at all? Of course not. This is one of the worst managed companies in the S & P 500.
This company has no soul at all and is in full on death spiral mode. mark my words- Really bad news is on the horizon.
Sentiment: Strong Sell
How is Miles still employed. It is beyond me that RS tolerates this horrific performance but will fire an employee for asking a critical question in a town hall. It speaks to RS's poor leadership that he is sticking to his formula when it is clearly not working. Can't cut your way to prosperity as is clearly evident in the OP industry. Growth strategy is just more of the same.
What are the management changes that occurred in Europe? Just saw the headline that they are cutting more CE people and bringing over more people from the US. Bad decision. Arrogant Staples way simply does not translate outside of the US.
not on the inside but have been following the company and industry for a long time. They used to be innovative but now they really look bloated and lost. I just don't see Ron S has the stomach to restart this thing and is just hanging on hoping the economy will recover. Look at his team- they have all been with SPLS for 10 years + and they absolutely ruined the CE deal by enforcing the "Staples Way" where it would not work.
I doubt Miles goes. Ron S is in full on protection mode with his inner circle. when was the last time he brought in any new blood? He keeps recycling his cronies into new positions (Shira Goodman as EVP of Growth? what is that? She was in HR for crying out loud) This is now such a pathetic place to work I doubt they will ever be relevant again.
I think this is more of the same. You are cutting nothing in Framingham from a cost perspective. You have made no executive changes and they are out of CE people to cut. are you telling me the best solution is to close some under performing stores and change the name in Australia? How in the world does MM keep his job?. The President of Europe was a failure BEFORE he got to SPLS and he is now retiring. Shockingly poor announcement and very disappointing.
Bummer for you if you are one of the handful of former CE people left at staples. You should sharpen your resume as you will surely be first on the list of layoffs that will be on tap.
Wow- I cant believe how terrible this is. This is a low point for sure. Where do you go from here? How do you not clean house right away. this is an embarrassing performance from a company that claims to be a leader but appears to be lost in the wilderness. And to all you defenders, take a look squarely at the performance of companies like Granger that are growing and thriving in the down economy. I have been saying for a long time that this company is in need of change and if it doesn't come after these results, it never will.
I fully expect earnings to beat by a penny or two, with a sizable revenue miss tomorrow. I follow this company closely and cannot see anything positive coming out of the international division. Europe and Australia are simply sucking wind while the US appears to be as flat as a pancake. They will likely prop up the ebitda number to beat the street to create a positive buzz but the reality is they are simply lost under MM outside of the US.
where is the outrage at the share price? this company is desperately in need of a new direction and management. The same tired team in Framingham needs to be replaced with newer and fresher ideas. What is the new strategy? Where is the new idea to generate more revenue?
I agree with you fully on Mike Miles. He is a face guy and nothing more. Couldn't manage himself out of a bag and the international performance under his leadership has been abysmal. Also agree that Jay's unit WAS a great one but is not anymore. They are losing contracts at an alarming rate (over $100m in healthcare contracts alone in the last year) and have not grown in several years. Again, in my opinion, his hand selected team are very poor and do not have the skill set to move this unit forward. There performance is in fact lagging behind Quill which has no sales team at all.
You should care Staplers because everyone knows that morale at SPLS is at an all time low. I always love getting responses from Staples guys that have bit the apple. As i have posted before, I think Jay leaving is just the start of a house cleaning to bring in new blood. Jay did do a good job starting NAD but he has not had a new idea in many years. The delivery business needs new leadership below JD and Jay was just in the way. He was an unnecessary layer of management that has not brought any value for the last 5 years. He surrounded himself with poor leaders who could not think for themselves and the companies results/stock price are suffering as a result.
He was an embarrassment and everyone in Framingham new it. He should have left years ago. Huge ego. I witnessed him demand that an employee be fired for asking a difficult question in a sales meeting for SNA. I suppose that is the Staples way though......never ask any questions of management. Good riddance.