What is Staples’ stock price, and are they publicly traded? Unfortunately, investors cannot purchase shares of Staples because it is a private company. However, Best Buy (NYSE: BBY), ACCO Brands (NASDAQ: ACCO), and HNI Corp (NYSE: HNI) are office supply stocks that traders can invest in.
Anyone who has worked in an office or has needed to buy school supplies has been to Staples. The office supply industry is a very concentrated market with a few major players. Staples is the brand that most people will think of, and for good reason. It is the largest office supply company in the United States and one of the largest in the world. Given the need for its products and services, wouldn’t buying Staples stock be a great investment?
Even as the workforce shifts to a more flexible work arrangement, there is still a high demand for office supplies and equipment. Remote workers need supplies, too! If you are interested in investing in Staples stock, this article is for you. We’re here to discuss investing in Staples stock, some competitors, and whether the office supply industry is a good place to park your capital.
Table of Contents
Staples Introduction (No Stock Symbol)
As mentioned, Staples is the largest office supply company in the United States. It was founded in 1986 in Massachusetts, opening the first store in Brighton. The headquarters for Staples is near Framingham, Massachusetts.
Leo Khan, Myra Hart, and Thomas Stemberg founded Staples. Khan and Stemberg, now deceased, were long-time rivals in the New England supermarket industry.
Rumor has it that the original idea for Staples arose as Stemberg was frustrated at the lack of options for purchasing office supplies. After being unable to find a ribbon for his printer because smaller supply shops were closed for a holiday, Stemberg created his vision for a one-stop shop superstore for office supplies.
The first Staples store opened in 1986 in a suburb of Boston called Brighton. After finding success, Staples expanded North into Canada under the name Business Depot in 1996. Eventually, these stores became Staples. In 1997, Staples expanded into Europe with its first store in the United Kingdom.
Today, Staples operates over 1,000 locations in the United States, over 200 in Canada, and nearly 100 locations across Europe and Latin America. Staples had a fairly large presence in the UK but sold all its locations in 2016.
Sycamore Partners acquired Staples in 2017 for a value of $6.9 billion. Sycamore still owns Staples today and has focused the company on providing more B2B partnerships and enterprise solutions.
As of 2023, Staples ranked 73rd on Forbes’’ list of 100 largest private companies and earned $8 billion in annual revenue. Can you buy Staples stock?
Can I Buy Staples Stock?
As you might have guessed, you cannot buy Staples stock, as Staples is on the Forbes list of 100 largest private companies. Sycamore Partners privately owns the company and isn’t on any public stock market. With over 1,000 stores, Staples seems like a great investment. Unfortunately, there are no plans to bring Staples public anytime soon.
Staples Stock Competitors
Since you cannot buy Staples stock, it’s time to look at other options. Even if offices are unused as they once were, people will always need office supplies. Staples is a great option, but there are certainly some alternatives that you can invest in. Here is our list of the best office supply industry stocks in 2024.
1. Amazon (NASDAQ: AMZN)
Every retailer worldwide has Amazon as a challenger, and Staples is no different. Amazon is the fifth-largest company in the world by market cap and the largest retail brand.
You can order any office supplies or equipment from Amazon and receive it within two days if you are a Prime member. As of 2024, Amazon has more than 230 million Prime members worldwide.
In Canada, Staples and Amazon have embarked on a new partnership together. Canadian Prime members can return Amazon purchases at any Staples outlet.
If you can’t beat them, join them! Even if you don’t think Amazon can fully replace Staples, it will be a great long-term investment. Amazon is one of those stocks that should be a part of every diversified portfolio, especially since you can’t trade Staples stock.
2. ODP Corp (NASDAQ: ODP)
The ODP Corp is an office supply company that competes directly with Staples, making it a good Staples stock alternative. The two companies have quite a long history together. You might know ODP better by its subsidiaries: Office Depot, Office Max, and Grand & Toy. Of all its brands, ODP operates over 1,400 stores worldwide.
Staples attempted to acquire Office Depot twice: once in 1997 and then again in 2015. Both times, the Federal Trade Commission or FTC blocked the merger, citing antitrust concerns.
The combined company would have too powerful a monopoly in the industry. Office Depot has been a publicly traded company since its IPO in 1988. As of 2024, it is a $1.4 billion company.
3. ACCO Brands (NYSE: ACCO)
ACCO Brands is an American multinational manufacturer of office supplies and equipment. It designs and produces nearly every type of stationery you can think of.
Acco’s products sell in over 100 countries worldwide, including well-known brands like Five Star, Hilroy, Acco, Kensington, and Mead. In all, Acco has over 45 stationery brands under its corporate umbrella.
The company is fairly small, with a market capitalization of just $445 million. Acco’ss stock is a Russell 2000 small-cap index component that trades under $5.00 per share. One interesting aspect ofAcco’s stock is its generous annual dividend yield of 6.38%. As a result, this is a great Staples stock alternative.
Acco is the product of a long list of mergers over the years, but the company can trace its origins back to 1893 when it started as the Clipper Manufacturing Company.
4. HNI Corp (NYSE: HNI)
HNI is an American multinational workplace and home furnishing company. It is one of the world’s largest workplace and office furniture manufacturers by annual revenue.
Founded in 1947, HNI is based in Muscatine, Iowa, and has an Asian office. Asian offices have multiple furnishing brands, including HON, Allsteel, Gunlocke, HBF, Design Public, and the Danish Design Store.
This stock has been a surprisingly strong investment over the years. Shareholders have gained more than 30% over the past five years and are collecting a dividend with a yield of 2.98%. HNI is also a global leader in heart product manufacturing. It makes gas, wood, electric, biomass fireplaces, stoves, and accessories.
5. Best Buy (NYSE: BBY)
Best Buy is America’s largest specialty electronics retail chain, with a market capitalization of $19.5 billion. It started in 1966 as a store called Sound of Music but rebranded as Best Buy in 1983.
The company operates over 1,120 locations across the United States and Canada. Until recently, Best Buy also had a major footprint in markets like Mexico, China, and Europe.
Best Buy has a long list of office supplies and equipment. These stores sell everything from office chairs to computers to in-store and online stationery. As for the stock, shares of BBY have returned over 33% over the past five years and pay an annualized dividend yield of 4.16%. BestBuy’ss stock is a component of the benchmark S&P 500 index.
Are Office Supply Stocks a Good Investment?
After the COVID-19 pandemic, we find ourselves with many abandoned offices. Remote work and work-from-home have replaced a large number of on-site offices. Although there has been a push to return to the office, many companies have permanently transitioned to hybrid working arrangements.
So, does that mean the office supply industry is dead? Not exactly. Staples still holds a dominant market share of office and school supplies. Rather than going to a store like Walmart, many people still think of Staples as the first place to go for work-related supplies.
Although you cannot invest in Staples directly, it seems unlikely that office supply companies will fully die off. As we mentioned, even remote workers need supplies and office equipment.
Final Thoughts: Staples Stock
Staples is one of the world’s largest dedicated office supply and services companies. From its humble beginnings in small-town Massachusetts to nearly 1,000 global stores, Staples has become a globally recognized brand for anything to do with office equipment.
The private equity group Sycamore Partners owns the company. As a result, Staples has no stock and doesn’t trade on any public stock market. Unfortunately, as of 2024, there is no way to invest in Staples.
There are no plans for Sycamore to bring Staples public either. Luckily, this article has five alternative office supply stocks, similar to investing in Staples stock.
If you enjoyed this article, check out our investment community at BullishBears.com!
Frequently Asked Questions
As of 2024, Staples does not trade on any stock market. It is a private company that has been owned by Sycamore Partners since 2017. You cannot buy Staples stock, and Sycamore has no plans to take Staples public soon.
No, Staples and Office Depot are two separate companies. Staples tried to acquire Office Depot in 1997 and then again in 2015. The Federal Trade Commission (FTC) blocked both attempts. Office Depot is a public company that trades under the ticker symbol NASDAQ: ODP.
No, Staples is owned by the private equity firm Sycamore Partners. Amazon and Staples are competitors in the office supply industry. The two companies have recently partnered in Canada to allow Amazon returns at Staples outlets.
As of 2024, Staples owns nearly 1,000 stores worldwide. Most of these locations are in the United States, but Staples also has a major presence in Canada and Europe.
