|Staples Inc. Continues Share Repurchase Program|
FRAMINGHAM, Mass.--(BUSINESS WIRE)--March 6, 2000--Staples Inc. (NASDAQ:SPLS) today announced that following its year-end earnings announcement, the company expects to continue its share repurchase program. Based on a board of directors authorization in December 1999, Staples expects to purchase $250 million of its common stock this year.
The common stock may be purchased by the company from time to time in open market or privately negotiated transactions. Repurchased common shares will be added to the company's treasury shares and may be used for employee benefit and stock option programs, as well as other corporate programs.
Staples Inc. is a $9 billion retailer of office supplies, furniture and technology to consumers and businesses from home-based businesses to Fortune 500 companies in the United States, Canada, the United Kingdom, Germany, the Netherlands and Portugal. Headquartered outside Boston, Staples invented the office superstore concept and today is the largest operator of office superstores in the world. The company has over 46,000 employees serving customers through more than 1,100 office superstores, mail order catalogs, e-commerce and a contract business. More information about the company is available at http://www.staples.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Staples Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the company's Annual Report or Form 10Q for the most recently ended quarter.
CONTACT: Staples Inc. Media Contact Shannon Lapierre, 508-253-8468 email@example.com or Staples Inc. Investor Contact Bonnie Monahan, 508-253-7963 firstname.lastname@example.org