Subsequent Events (Notes)

9 Months Ended

Oct. 29, 2016

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

Divestiture of Staples UK Retail business

On November 16, 2016, the Company entered into a definitive agreement pursuant to which it will sell its retail business in the United Kingdom (“Staples UK Retail”) for nominal proceeds. The transaction is expected to close in the fourth quarter of 2016. In connection with this transaction, the Company expects to recognize a loss estimated at $70 - $80 million during the fourth quarter of 2016, excluding the impact of certain ongoing lease obligations which the Company will continue to guarantee. The Company expects to recognize a liability in the fourth quarter of 2016 related to the fair value of the guarantees, the impact of which will be reflected in the amount of the loss recognized related to the divestiture. At this time, the Company cannot reasonably estimate the amount of the liability, which could material.

Staples UK Retail generated sales of $302 million during 2015 and $177 million during the year-to-date 2016, with operating losses of $17 million and $6 million during those same periods.

Acquisition of Capital Office Products

On November 7, 2016, the Company acquired Capital Office Products, which delivers office-related supplies to commercial customers in the southeastern U.S. Capital Office Products, which will be a component of the Company’s North American Commercial segment, had revenues of approximately $106 million during the twelve month period ending October 31, 2016.