Staples Swings To Loss, to Close 50 Stores This Year

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    • Jan 2009
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    Staples Swings To Loss, to Close 50 Stores This Year

    Staples Inc. said it swung to a loss in the latest period on nearly $1 billion in charges, hurt in part by its failed plan to merge with Office Depot Inc. The charges were primarily related to the impairment of European goodwill and other assets, as well as costs associated with the termination of the Office Depot merger agreement. Staples paid smaller rival Office Depot a $250 million breakup fee.


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