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Staples to Introduce Same-Day Delivery in Major Metros
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In a bid to attract more customers, Staples, Inc. is set to start a new service called “Staples Rush.” This service will offer customers an opportunity to receive products on the same day that the order is placed. The service will be available in major metropolitan areas.
The service will be available from Monday to Friday for orders placed by 3 p.m. Customers who place their order within the stipulated time frame will have their products delivered by 7 p.m. The service is currently available in parts of Dallas, Boston and Manhattan. However, this service will soon be available in other cities like Chicago, Los Angeles, Seattle and Houston San Francisco as well. Initially, the company will charge $14.99 per delivery.
We believe that the “Staples Rush” service will certainly help the company attract more customers and be competitive in the current market scenario. Following the verdict on the Staples and Office Depot, Inc. (ODP - Free Report) merger, Staples has outlined certain plans to increase its long-term value. In order to acquire new customers, the company intends to increase its offering of products as well as services beyond office supplies. Staples expects to improve its supply chain capabilities through the addition of more than 1,000 associates to its mid-market sales team.
Since 2011, Staples has closed more than 300 stores in North America. The company is planning to close at least 50 stores in North America in 2016. The company not only intends to increase productivity but also hopes to maintain profitability in North America by expanding its services, increasing customer base, shutting down underperforming stores and decreasing fixed costs. The company plans to initiate a new cost-saving program to garner nearly $300 million of pre-tax cost savings annually, by the end of 2018. The company will also resume share repurchase during the second quarter of 2016 and intends to return roughly $100 million to shareholders in 2016.
Staples currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector include Cabela's Incorporated and ULTA Salon, Cosmetics & Fragrance, Inc. (ULTA - Free Report) . Both these stocks hold a Zacks Rank #2 (Buy).
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Staples to Introduce Same-Day Delivery in Major Metros
In a bid to attract more customers, Staples, Inc. is set to start a new service called “Staples Rush.” This service will offer customers an opportunity to receive products on the same day that the order is placed. The service will be available in major metropolitan areas.
The service will be available from Monday to Friday for orders placed by 3 p.m. Customers who place their order within the stipulated time frame will have their products delivered by 7 p.m. The service is currently available in parts of Dallas, Boston and Manhattan. However, this service will soon be available in other cities like Chicago, Los Angeles, Seattle and Houston San Francisco as well. Initially, the company will charge $14.99 per delivery.
We believe that the “Staples Rush” service will certainly help the company attract more customers and be competitive in the current market scenario. Following the verdict on the Staples and Office Depot, Inc. (ODP - Free Report) merger, Staples has outlined certain plans to increase its long-term value. In order to acquire new customers, the company intends to increase its offering of products as well as services beyond office supplies. Staples expects to improve its supply chain capabilities through the addition of more than 1,000 associates to its mid-market sales team.
Since 2011, Staples has closed more than 300 stores in North America. The company is planning to close at least 50 stores in North America in 2016. The company not only intends to increase productivity but also hopes to maintain profitability in North America by expanding its services, increasing customer base, shutting down underperforming stores and decreasing fixed costs. The company plans to initiate a new cost-saving program to garner nearly $300 million of pre-tax cost savings annually, by the end of 2018. The company will also resume share repurchase during the second quarter of 2016 and intends to return roughly $100 million to shareholders in 2016.
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Zacks Rank & Stocks to Consider
Staples currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector include Cabela's Incorporated and ULTA Salon, Cosmetics & Fragrance, Inc. (ULTA - Free Report) . Both these stocks hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>