Sycamore partners is a “retail focused organization”— just look at their entire portfolio. Why is everyone so surprised that they are destroying what they do not understand? They don’t want it- they don’t see the value in this business-their vision to manage and squeeze every dollar out of a retail investment. Take a look at their track record— just look at what they did to Nine West, Stuart Weitzman, and others. They robbed- pillaged— and plundered those companies into near death. They made ( or should I say manipulated) tons of money off the backs of those companies by financing a buyout- saddling the company with the financing debt... took the cash and when the debt was too much for the company- spun it into bankruptcy. Mark my words— Staples is going that way. Ask yourself a question... when Sycamore “bought” Staples what happened to all the cash Staples had in the bank?? Where did it go?? Staples has ALWAYS been a cash rich organization. Over 800 million in the bank at one point. Never carried debt— now??? Staples is so overleveraged if it was an individual they would have jumped off a building and committed s---c-de. Don’t be upset with the schmucks still drinking the kool-aid, and trying to champion Staples on these boards—- ever heard of “Stockholm syndrome”?? Enough said
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Well I suggest you stop acquiring b2b companies because you do not have the knowledge base or ability to understand that you don’t get rid of your
1) most experienced knowledgeable people
2) b2b Sales requires relationships, stop getting rid of the sales people who have long term relationships with customers
3) high performance managers who know what needs to be done over complete imbeciles that admit they don’t know anything about a particular line of business
If SP is so attuned to b2b, why rely on BCG. No, SP needs to stay in their lane of ruining retail company’s.
Reports are that the GTM is a cluster f$&! In the East. Mason is rubbing their hands and drooling like a vulture circling the carcass. Customer complaining their long term sales person is gone, not getting their calls returned, now customer have to rebuild a relationship with a less experienced sales person and hope they aren’t imbeciles like their managers.
No we all have thought quite clearly about the path SP is on, its you that have not opened your eyes, continue to believe the dark overlord SD and his minions, TH and SK et al.
yup. move the cash to safety, use the Staples reputation and shell to rack up huge debt, and then boom, leave somebody else holding the bag. Spot on.
questions with no answers, the 800 mil? since SP owns them they do not have to answer that at least as a publicly traded company there was a degree of transparency SP can be as shady as they like and their track record shows they like the dark
No interest in B2B. Got it. That must be why we / SP keep acquiring B2B companies. That must be why the COEs have a higher bonus weighting on NAD than Retain.
I mean, does anyone even put 2 seconds of thought into what they post here?
Everything stated...so correct . The company founded by TS was truly an amazing success. He grew a wonderful retail company and shared the rewards with the organization ...the people. Anyone who was part of the growth of Staples will remember it as one of the most special times in their working life. The company could do no wrong . TS was the last great leader at SPLS . He understood the office products business and was highly engaged in every aspect. He made the industry exciting .
It is the exact opposite of today. It is not about office products or innovation or sharing success or growth anymore , as you all clearly know. It is incredibly sad to see what happened here .
The most special part of a SPLS has always been the people. Hard working , dedicated , smart people.
Tap the SMART part of yourself. Accept what has happened and go find another adventure . It is unlikely that things will get better , or the company gets turned around , or the people will be the priority once again. Go be happy somewhere else . SP does not deserve your loyalty or hard work.
Sycamore = locusts
Search this site for their name and you will see a trail of tears and pain