Staples (SPLS) Stock Climbs, Names New North American Retail President
NEW YORK (TheStreet) -- Shares of Staples (SPLS) are advancing 1.64% to $8.99 in late-morning trading on Monday after naming Steve Matyas the new president of its North American retail operations.
Matyas had served as the head of Staples Canada since July 2000.
"Realigning our retail leadership will strengthen our position as we continue to right size our store network and evolve to meet the changing needs of business customers," interim CEO Shira Goodman said in a statement.
The office supplies retailer named Goodman interim CEO in May after former CEO Ron Sargent announced his resignation following Staples's failed merger with Office Depot (ODP).
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C+.
Staples' strengths such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity are countered by weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow.
You can view the full analysis from the report here: SPLS
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.