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Staples, Inc.

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U.S. District Court ruled out the merger of Staples and Office Depot. According to the FTC, the deal would lower competition nationwide and result in price hikes and fewer options for large corporate houses that usually make bulk purchases. However, had the merger materialized, the two companies would have created a retail chain with approximately $36 billion in annual revenues and thousands of stores. Following, the verdict on the merger, Staples has outlined certain plans to increase long-term value. Notably, both the top line and the bottom line of Staples came ahead of the Zacks Consensus Estimate during the first quarter of fiscal 2016. While earnings remained flat year over year, sales declined 3.1%. For the fiscal second quarter, the company anticipates sales to fall from the prior-year quarter level.

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