Staples Inc. expects its North American delivery business to report sales between $2.50 billion and $2.59 billion in the fiscal second quarter of 2017, on par with the $2.59 billion reported in the same period last year, according to a Securities and Exchange Commission filing on Aug. 10. The office supplies retailer shared preliminary sales of its North American delivery business for "prospective investors," following the announcement of Staples' deal to be acquired by private equity firm Sycamore Partners.
Staples announced the $6.9 billion agreement June 28, which is still pending approval of stockholders and expected to close in December. Sycamore Partners plans to spin off Staples' retail store operations and keep the company as a business-to-business distributor, according to a note released by S&P Global Ratings on Aug. 8.
Within Staples' North American delivery business, Staples anticipates that growth in Staples Business Advantage, a unit that provides office supplies and technology to corporate offices, will be offset by "modest declines" in Quill, another segment that sells to offices, and Staples.com.
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