GO
Loading...

Enter multiple symbols separated by commas

Staples: Listening To The Company Conference Call

Staples Store
Staples Store

Moments ago on the Staples conference call...the CEO says he that he was cautious about the consumer last quarter and now that's progressed to "worried" about the consumer. The retail business is particularly weak in Florida (Tampa, Orlando) and California.

Consumers are buying less and clearly nervous about the future. The company's delivery business is fine but the small business orders are slowing. In other words, this is a consumer slowdown--not a business slowdown. The company is pointing to concern about credit lines and the credit markets with making small businesses buy less. Back to school buying is weaker than last year but that may be due to schools starting later.

More of the conference call to follow.

Questions? Comments? retaildetail@cnbc.com

Retail

Latest Special Reports

  • Financial Advisor

    Featuring CNBC's Financial Advisor Council, this video series will aim to educate investors with straightforward financial advice.

  • The latest CNBC Fed Survey.

  • Business icons and provocateurs share their innovative models. Learn how to upend old industries, and start new ones.