|Staples Announces Partnership with Mayor Menino's ReadBoston in Support of Early Childhood Literacy|
$550,000 Donation to Fund New Early Childhood Literacy Program through 2009
FRAMINGHAM, Mass.--(BUSINESS WIRE)--June 21, 2007--Staples, Inc., (NASDAQ: SPLS) announced today a new partnership with ReadBoston, the literacy program founded by Mayor Thomas M. Menino, to address low literacy levels among Boston's youth. John Mahoney, vice chairman of Staples, will announce Staples' donation totaling $550,000 over the next three years to fund a new literacy program during ReadBoston's Summer Storymobile Kick-off event on Friday, June 22 at 11:00 a.m. at the TADpole Playground in Boston Common. During the event, Staples will also present each child with a book authored by Peter Reynolds to enjoy at home.
For the past decade, ReadBoston, founded by Mayor Menino, has been working to ensure all children in Boston are reading at grade level by the end of third grade. Staples' support will enable ReadBoston to launch a new program this fall focused on early childhood literacy, which the company will fund through 2009.
"I want to thank Staples for their generosity. With partners like Staples, we can continue to make ReadBoston a success," Mayor Menino said. "Staples has proven once again their commitment to playing an active role in the Boston community and we appreciate their support, which over the next three years, will fund a new program that will help every child in Boston reach their maximum reading potential."
"Reading plays such a critical role in the lives of children and we admire ReadBoston's commitment to providing literacy programs that contribute to their development, inspire their imagination and help them grow an appreciation for reading that can last a lifetime," said Ron Sargent, chairman and CEO of Staples, Inc. "Through this new collaboration, Staples will work with ReadBoston and Mayor Menino to raise awareness about the importance of early childhood reading and the impact it has on development."
Through Staples Foundation for Learning, national charitable partnerships, cause marketing programs and in-kind donations, Staples distributes resources to nonprofit organizations in the communities where our customers and associates live and work. The organizations Staples supports help provide educational opportunities and job-training assistance for all people, with a special emphasis on disadvantaged youth. Staples' community-giving programs help create stronger, healthier communities by providing participants with the skills and experiences they need to more fully engage in and benefit from society.
Staples, Inc. invented the office superstore concept in 1986 and today is the world's largest office products company. With 74,000 talented associates, the company is committed to making it easy to buy a wide range of office products, including supplies, technology, furniture, and business services. With 2006 sales of $18.2 billion, Staples serves consumers and businesses ranging from home-based businesses to Fortune 500 companies in 22 countries throughout North and South America, Europe and Asia. Headquartered outside of Boston, Staples operates approximately 1,900 office superstores and also serves its customers through mail order catalog, e-commerce and contract businesses. More information is available at www.staples.com.
ReadBoston, founded by Mayor Menino in 1995, has been working to ensure that every child in Boston can read at grade level by the third grade. ReadBoston programs reach more than 40,000 children in Boston every year and over 600,000 books have been donated to children, families, educators, preschools and elementary schools since ReadBoston's inception. The Storymobile program will serve children at 80 sites throughout the city. At each Storymobile site, children will receive a free new book and storytelling each week for six weeks.
CONTACT: Staples, Inc.