Staples Inc. (NASDAQ:SPLS) is the world's largest office products company, generating $24.3 billion in sales in 2009, up 5.2% from 2008.^[1] Not only is the company ahead of its closest competitors in terms of revenue -- Office Depot (ODP) had revenue of $12.1 billion (a 16% decline))^[2] and Officemax (OMX) had sales of $7.2 billion (down 12.8%)^[3] -- but it is the only one to have positive profits in 2009 -- Staples profits were $739 million.

While Staples is the overall leader, it has embarked on several initiatives to extend its lead. For its physical retail locations, the company has significantly remodeled older stores while introducing smaller store formats in less-populated areas. To increase its margin, Staples has increased the mix of private label offerings (i.e., Staples brand products) and emphasized the purchase of products directly from manufacturers instead of distributors.

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