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Chainsaw Carl Icahn
severs Xerox stake
Lost $500m. Savaged
sales, jobs & market cap
Xerox Corp announced today, it has entered into an agreement to repurchase all of the shares beneficially owned by Carl 'Chainsaw' Icahn. The purchase price is approx $542m, down -50% on the original buying price. Meanwhile, the company is a skeleton of its former self 5 years ago...
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Armor accelerates
print consolidation
Reman & compatibles market
freefall favors major survivors
Leading European ink cartridge remanufacturers and compatible makers and distributors are consolidating fast in the face of secular market decline and competive pressure from HP. Leading player Armor has accelerated its acquisition activity with the takeover of a German rival.
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Acco legend Dez
LaPlace passes
Global OP#1 brandmaker's
gentleman remembered
Dez Laplace the legendary sales chief of AccoWorld Corporaation, the #1 OP brand back in the 80's has passed away peacefully aged 91yrs. LaPlace and ceo Doug Chapman were an irresistible partnership in innovation, creativity and customer relations. We fondly remember those glory years and the huge impact of 'Gentleman Dezzie' in US and international markets.Tomorrow
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Acme accelerates
meds investments
Acquires failed Canadian
first aid kit specialist
Cutting tools and safety supplies maker Acme United Corporation today announced it has acquired selected assets of a supplier of first aid and survival kits, medical supplies, and training. The company was in receivership and the purchase price was approximately $1.0m. Details here....
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MillerKnoll's hybrid
work growth stalls
New concepts unable to
offset soft RTO demand
MillerKnoll the #1 furnituremaker maintained its focus on hybrid office demand, but the soft contract market showed no signs of recovery. Retail designs slowed too. Outspoken CEO Andi Owen seems complacent about the tough contract market prospects. Results analysis here
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Steelcase stuck in
hybrid hiatus era?
Collab specialists pivot to
furnish flexible workspaces
Steelcase the leader in collaborative office furnishings, recovery reversed in Q2'24 to 31Aug'23. Disappointingly, ceo Sara Armbruster reported another soft order book related to macroeconomic concerns, despite investments in the hybrid work future. What is happening with the former innovative industry leader? Full analysis here
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Wayfair Wonder?
For real or fantasy
Will market share gains
plan produce profitability
Online international home office furniture reseller, Wayfair's stock has surged by +115% in 2023, but uncertainty looms over its long-term prospects. Despite gaining market share through broad product availability and fast delivery, its financial performance doesn't match its pre-Covid growth rates and profitability is still a major concern. Seeking Alpha analyses and comments on recent presentations....
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Depot's CEO Smith
takes medical leave
Veteran Vassalluzzo
takes on responsibility
A non-executive chairman of the ODP Corp (inc. Depot/Max). board is assuming CEO Gerry Smith’s authority and responsibilities while he is out on leave for an unspecified medical procedure. ODP says Smith will require several weeks of recovery time.
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OPI: Obsolete,
Pointless, Insular
New era, Old perspective
Useless impractical stuff
The OPI prospectus for its The Business (& Workplace) Supplies Industry to 2028 report will tackle the key forces such as digitization, hybrid working, sustainability and macroeconomisc. Where's it been for the past 10yrs, when questions raised, have been answered by progressive makers, distributors, dealers and Amazon, the #1 business supply wholesaler? All reported regularly in Proficiency Post & Megatrends 2023? We critique... Updated
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ISGroup's Gentile
successor named
Hygiene group leader
to drive growth agenda
US #1 OP dealer cooperative Independent Suppliers Group (ISG) in April announced that CEO Mike Gentile would step down on 1Jan'24. The group just announced the appointment of his successsor whose previous experience with Essendant and Network Distribution make him an ideal candidate to drive the major growth categories in the HyPac market....
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