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Bureau en Gros company history timeline

1973

Stemberg had worked in the New England food business since graduating from Harvard Business School in 1973.

1985

Staples was founded in November 1985 by Thomas G. Stemberg and Leo Kahn, who had previously competed against each other in the Boston grocery market.

1986

In November 1986 the company opened its second store in Woburn, Massachusetts, another suburb of Boston.

1987

Gupta, Udayan, “Retail Start-Up Decides to Start Out Big,” Wall Street Journal, May 14, 1987.

Staples began work on its 136,000-square-foot processing and distribution center in Putnam, Connecticut, in 1987.

1989

1989: Company raises $37 million through an initial public offering.

1990

McConville, James A., “Staples Targets Urban Niche,” HFD—The Weekly Home Furnishings Newspaper, October 22, 1990.

1991

Founded in 1991, Staples Canada is a privately-held company based in Richmond Hill, Ontario, with a network of over 300 stores across Canada.

1995

These moves were all designed to increase Staples' size and penetration of the office supplies business, and they helped the company's revenues surpass the $2 billion mark for the fiscal year ending in January 1995.

1996

Also in 1996, Staples bought out its partner in the U.K. and German ventures, Kingfisher, in a £29.4 million deal.

1997

The FTC voted to block the deal in March 1997 and one month later rejected the deal again after Staples had reached an agreement to sell 63 stores to OfficeMax.

Brown, Ed. "Why the FTC Needs to Chill." Fortune, April 14, 1997.

During 1997 the company opened 128 new stores in North America, bringing its store total to more than 740.

1998

The expansion pace quickened in 1998, as 174 more stores made their debuts.

1998: Quill Corporation is acquired; staples.com is launched.

1999

Nevertheless, in 1999 it shelved Dilbert, concluding that the popular cartoon character overshadowed the brand and did not produce the desired results.

2000

During the latter months of 2000, the retail market for office supplies began foundering.

The boom years of the 1990s were over, and the growth of small businesses and home offices--the core of Staples' customer base--was fading away. As a result, net income for fiscal 2000 totaled just $59.7 million, compared to $315 million for the previous year, although revenues increased 19 percent and surpassed the $10 billion plateau for the first time.

2002

In February 2002 Sargent was promoted to president and CEO, while Stemberg remained chairman.

In a 2002 earnings conference call Sargent explained the needs of small businesses to investors. "… [W]e asked the customer[s] what they thought and what they needed.

2003

The first two commercials ran during the CBS program 60 Minutes on March 2, 2003.

Staples planned to continue its more modest pace of expansion, opening between 75 and 90 stores in North America during 2003.

2004

In 2004 Staples purchased British rival Office World from the Globus group.

2005

Rebranding of these stores to the Staples brand took place in 2005. Its first store was in Finnieston, Glasgow in April 2005

In 2004 Staples purchased British rival Office World from the Globus group. Its first store was in Finnieston, Glasgow in April 2005

2019

© 2019 Encyclopedia.com | All rights reserved.

2022

"Staples, Inc. ." International Directory of Company Histories. . Retrieved May 23, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/staples-inc-0

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