|Staples, Inc. Chairman Increases Stake in Company's Shares|
BW0289 MAR 10,1998 7:05 PACIFIC 10:05 EASTERN
WESTBOROUGH, Mass.--(BUSINESS WIRE)--March 10, 1998--Staples, Inc. (NASDAQ:SPLS) today announced that its Chairman and Chief Executive Officer, Thomas G. Stemberg, has made a net investment in the company's shares.
Mr. Stemberg recently exercised 1,300,000 options to purchase the company's common stock and, net of a sale of 1,143,000 shares, has increased his total number of shares held in the company to over 2,100,000 shares. When Mr. Stemberg's remaining options in the company's shares are considered, his total number of shares beneficially owned is over 4,260,000 shares or approximately 2% of the company's outstanding shares.
Staples, Inc., is a $5 billion retailer of office supplies, furniture and technology to businesses from home-based businesses to Fortune 50 companies in the United States, Canada, the United Kingdom and Germany. Staples, headquartered outside Boston, Mass., invented the office superstore concept and today is the largest operator of office superstores in the world. The company, which has grown earnings per share at a 40% compound rate over the last five years, has 30,000 employees serving the business customer through 749 office superstores, mail order catalogs and a contract business.
More information about Staples, Inc. may be obtained from the Company's website at http://www.staples.com., or from the Company's Investor Relations department by dialing (800) INV-SPL1.
--30--mp/bos* CONTACT: Staples, Inc. Investor Contacts: Media Contacts: Samuel J. Levenson, CPA Jean Papagni V.P. - Investor Relations Manager of Public Relations (508) 370-7963 (508) 370-8468