Staples (SPLS) is one of the largest office supply superstore chains in the US, Europe, Asia and South America (1900+ stores).
SPLS also sells its branded products in over 2400 grocery stores in the US. In the past five years, the company has grown profits at a 5% pace, earning a return of equity in the 12-18% area. In 2004, it initiated a dividend and has since more than tripled it (27% AR). While SPLS did not escape the impact of the recent economic down turn, it should resume its long term growth as a result of:
(1) as an industry leader, it is positioned to sustain above average growth due to better margins and its effective merchandizing skills,
(2) new products,
(3) new store expansion,
(4) improving same store sales by expanding its business technology and copy and print services,
