Staples Pushes Into New Markets

FRAMNINGHAM, MA-Staples will work to expand in one new market a year where it currently does not have a presence, executives said yesterday during their quarterly conference call. Denver, Houston and Miami are among the 11 major markets where the office supplies retailer does not have a significant presence.

“The Chicago entry so far is really encouraging for us in terms of our ability to build out the rest of the markets Staples is not in,” says Michael Miles, chief operating officer. Staples entered the Chicago market last year and currently operates 15 stores there, one-third of the potential executives forecast for the market.

The end of this month and the beginning of September will be a big selling cycle for the retailer, when the back-to-school season starts, and Staples could face more competition than before from discounters like Target and Wal-Mart, says Miles. “We are seeing more aggressive competition from some of the mass chains than we have in the past,” he says.