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Staples: Yeah, we got money Founded in 1986, Staples is now the second-largest office supply store in the world. An antitrust ruling blocked Staples' plan to merge with competitor Office Depot and operate as a 1000-store behemoth, but Staples is nevertheless expanding at a phenomenal rate on its own, opening over 100 stores a year. The company, which serves mostly small businesses and home office workers, generates nearly $9 billion in sales, making it one of the most reliable performers on Wall Street. Appealing to the hassle-weary office place Staples punched its way into the $100 billion office supply market when Thomas Stemberg, a recently-fired supermarket executive and developer of generic supermarket products, began looking for a niche retail market. Realizing that most office supply stores were too small to benefit from bulk buying, Stemberg made his first Staples store, located in a Boston suburb, large enough to buy in bulk and sell at discount price. Pitching its credo of "slashing the cost and hassle of running your office," Staples spread throughout the Northeast and by 1990 had its first foothold in California. Today, Staples has over 800 stores under the Staples, Staples Express, Business Depot, and Bureau En Gros names, the most in the world, and it continues to grow. In 1999, it acquired three European firms to augment its international presence; it bought two Internet technology companies: HotOffice Technologies Inc., and DSL.net Inc.; and it announced plans to open stores in airports nationally. Sex and paperclips, next on Geraldo In 1996, the company announced a plan to merge with Office Depot in a deal worth $3.4 billion. Although both companies sold individual stores to number-three Office Max to avoid an antitrust ruling, the Federal Trade Commission still blocked the merger. Two years later, Staples endured a Clintonesque scandal when president and COO Martin Hanaka resigned over allegations of an extramarital affair with an employee. Former Chief of North American operations Ronald Sargent later assumed the position. It's the Internet stupid With the Big Three of office supplies, Staples, Office Depot, and Office Max, accounting for only 20 percent of the $285 billion market, Staples is focusing on two key areas for growth: small businesses and the Internet. The company hopes to offer small businesses such high tech services as videoconferencing, messaging, and Web-site design. The office giant already bought Quill Corporation, which specializes in direct sales, and telecommunications firm Claricom Holdings while it forged partnerships with Bell Atlantic, Nortel Networks, and CompuCom Systems. Staples also invested an additional $10 million into its new on-line site, which allows customers to purchase over 6,000 items over the Internet. Its rapidly expanding virtual office market is already worth billions of dollars; efforts to improve and refine the site are never-ending. Expansion-happy Staples has surged into 2000. It strengthened its Internet presence by allying with VarsityBooks.com, CloudSource, MarketTools, and TVisions Inc. In early-2000, the company announced that it would offer insurance online as well. Also in 2000, Staples formed strategic alliances with Manhattan Associates, Inc., a producer of management systems; with Plumtree Software, a corporate portal leader; and with Pre-Paid Legal Services, Inc., a national provider of legal service plans.
Staples conduct recruiting drives at college campuses usually in Massachusetts and throughout the Northeast region for both undergraduates and MBA students. Schools Staples regularly visits are: Boston College, Boston University, Bentley College, Cornell, MIT, New York University, University of Connecticut, and Yale. The company is also recruiting students for its Management Trainee Program, a six month to one year assignment that involves both classroom and hands-on training. Successful participants usually become Operations Managers after completing the program. Resumes and cover letters can be e-mailed to college@staples.com or faxed to (508) 370-8945. Staples' corporate offices is also looking for applicants to fill positions in Customer Service, Information Services. Finance, Marketing, and Strategic Planning. Complete job listings can be found in the company's web site at http://www.staples.com/about/jobs/. According to one insider, "job openings for the corporate office are opened to store employees first" and usually involve 2 to 3 interviews.
With success breeds opportunity Staples' "explosive growth" has translated into "outstanding opportunities" for the career development of its employees. Employees describe the working environment as "tough", "vibrant," and "dynamic." One employee says the company vigorously adheres to its core values: customers, employees, communication and execution. Corporate vs. Retail Dress code for the corporate office is usually "business casual Mon. through Thurs. with jeans on Fri." Store employees are less fortunate: red shirt, black dress pants, black dress shoes. "The dress code is rather picky," says one former employee. "The hours can be long (that's why I left)." While retail managers "regularly" work 10-hour shifts six days a week, they also say that the company's "consistent support" enables them to "meet the challenges of the retail industry successfully." Paper millionaires Employees in both the retail and corporate operations comment on the "low base salaries," and yet they report that the "hefty" stock options-worth more because of Staples' impressive performance-"make the total compensation better than simply competitive." According to one insider, Staples "makes it very easy and advantageous to become a stock holder." Adds another employee, "If you do well, then you can expect to be paid very well. Several U.S. people have become paper millionaires with their share options." Store employees receive commission on selling certain items: cellular phones, printers, pagers, certain computers, and products with extended warranties. In addition, Staples' employees are eager to praise the company's "deep commitment" both to "hiring women and minorities" and to "promoting them to important positions." Says one employee, "Females are rather sparse in the computers department, hence they receive advantages when applying for jobs in that apartment."
Human Resources
Business machines;Computers and related products;Office supplies;Office furniture;Copy and fax services;Special order catalogs
Buhrmann;Corporate Express;U.S. Office Products More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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