Staples, Inc. and Cerberus Capital Management, L.P. announced today that Staples and Cerberus have entered into an agreement in relation to the sale of a controlling interest in Staples' European operations to a Cerberus affiliate. Staples' European business consists of retail, contract, and online businesses in 16 countries generating aggregate annual sales of approximately €1.7 billion. Staples is retaining a 15 percent equity interest in the business and will be represented on its board of directors following the closing of the transaction. In accordance with applicable law, Staples will now consult relevant European works councils. Subject to these consultations and satisfaction of other conditions, the parties anticipate closing the transaction during the first quarter of Staples' fiscal 2017 year. "One of our top strategic priorities has been to narrow our geographic focus on North America, and this is an important step toward simplifying our operations and better positioning Staples for sustainable long-term growth," said Shira Goodman, Chief Executive Officer and President, Staples, Inc. "We believe that working with Cerberus will help enable the future success of the Staples Europe business, benefiting our associates and customers in the region." click Read More below for additional detail
Walmart U.S. Q2 comp sales1 grew 2.8% and Walmart U.S. eCommerce sales grew 37%, Company reports Q2 FY20 GAAP EPS of $1.26; Adjusted EPS2 of $1.27, led by strength at Walmart U.S., Walmart raises expectations for fiscal 2020 U.S. comp sales, operating income and EPS3
Total revenue was $130.4 billion, an increase of $2.3 billion, or 1.8%. Excluding currency2, total revenue was $131.7 billion, an increase of $3.7 billion, or 2.9%.
Walmart U.S. comp sales increased on a two-year stacked basis by 7.3%, which is the strongest growth in more than 10 years. Segment operating income increased 4%, marking the fifth consecutive quarter of growth.
Walmart U.S. eCommerce sales growth of 37% includes strong growth in online grocery.
Sam’s Club comp sales1 increased 1.2%, and eCommerce sales grew 35%. Reduced tobacco sales negatively affected comp sales by 300 basis points.
Net sales at Walmart International were $29.1 billion, a decrease of 1.1%. Excluding currency2, net sales were $30.4 billion, an increase of 3.3%. Strength in Walmex and China were offset by softness in the U.K. and Canada.
Operating income declined 2.9%, or 2.4% in constant currency2, which was better than planned with strong results in the U.S. businesses. As expected, the inclusion of Flipkart this quarter negatively affected profit results
details at: https://corporate.walmart.com/media-library/document/q2-fy20-earnings-release/_proxyDocument?id=0000016c-9329-dafb-a57f-f37d868d0001