It's the changing spending patterns of small business owners like Thomas Kean that helped prompt Staples Inc to purchase Office Depot. It also may limit their post-merger growth prospects. Staples announced on Wednesday that it would buy Office Depot for $6.3 billion, combining the top two U.S. retailers of office supplies. The companies said the deal would enable them to better serve customers and make them more competitive on costs..Kean, the owner of a property broker that employs 10 people in the Chicago suburb of Park Ridge, said he stopped shopping regularly at the nearby Office Depot years ago and only buys from Staples when they advertise a really good deal."For normal stuff like paper, pens, folders and ink, I go to Costco and Sam's," Kean said, referring to membership-only bulk seller Costco Wholesale Corp and its rival Sam's Club, a unit Wal-Mart Stores Inc."I think most small business guys do the same thing."
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U. Shares of COST traded higher by 1.41% or $2.17/share to $155.92. In the past year, the shares have traded as low as $109.80 and as high as $153.89. On average, 2159210 shares of COST exchange hands on a given day and today's volume is recorded at 11006220.
Office Depot, Inc. (Office Depot) is a global supplier of office products and services. Shares of ODP traded higher by 2.21% or $0.205/share to $9.48. In the past year, the shares have traded as low as $3.84 and as high as $9.32. On average, 10959500 shares of ODP exchange hands on a given day and today's volume is recorded at 149438032.
Staples, Inc. is an office products company. The Company operates in three business segments: North American Stores & Online, North American Commercial and International Operations. Shares of SPLS fell by 11.99% or $-2.28/share to $16.73. In the past year, the shares have traded as low as $10.70 and as high as $19.40. On average, 13513500 shares of SPLS exchange hands on a given day and today's volume is recorded at 65259164.
Wal-Mart Stores, Inc. (Walmart) operates retail and other stores in various formats, including membership clubs. Shares of WMT traded higher by 0.53% or $0.46/share to $86.65. In the past year, the shares have traded as low as $72.27 and as high as $90.97. On average, 7505790 shares of WMT exchange hands on a given day and today's volume is recorded at 8932258.
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