The sales of the staples company has slid down for the fourth time due to a loss in the 4th quarter. But the company states that the slide in the quarter is not going to affect their profit and progress. Their estimated and proposed 6.4 billion acquisition is still going strong and the slide has not let them to any kind of loss which usually many companies fail to achieve after a slide.
Chief executive officer of the company Ronald Sargent states that they have met with the demands of the rating agencies and also of their lenders. He also said that all the financial debts of the company will also be met soon by the company. Sargent also mentions that he is very confident that the debt won’t affect them and will let them achieve their target of 1 billion dollars and more.
It has also started off with its planning for the same. Analyst of the company had expected sales of 5.76 billion dollars last year, but the sales were down by 4% and the company posted a net loss of 260 million dollars compared to its net strategy income of 212 million dollars in the previous year.
Sargent states that there is a possibility of having not so efficient board members in the starboard could be one of the reasons for not planning an appropriate plan for the profit strategy. Hence the value of the starboard will be increased this year by adding two more efficient members of the committee and lead independent Director Robert Nakosone will be replaced by Paul Henri Ferrand, Google’s Vice President of U.S, Sales and Operations, in June.
Staples have also signed a deal to buy an office for around 6 billion dollars to compete against WalMart.Inc and also Amazon.Inc. The deal is on progress now and will be soon approved.