But the social network’s advertising revenue grew 18.4% during the quarter.
Neil Ringel takes over Staples Advantage as its former leader retires.
Staples has promoted Neil Ringel to executive vice president of Staples Advantage, the office supply chain’s division that sells to larger companies and government agencies. The job gives Ringel responsibility over the business-to-business unit’s operations in North America. Staples is No. 2 in the Internet Retailer Top 500 Guide.
Ringel started at Staples in 1995 and helped to launch Staples Advantage in 2000, the retailer says. He most recently worked as senior vice president of the business-to-business unit. He takes over for Jay Baitler, who is set to retire in October after 17 years leading Staples Advantage. Ringel reports to Joe Doody, president of Staples North American Delivery, which includes Staples.com, the e-commerce site that serves small businesses and consumers.
“Neil has demonstrated great leadership at Staples,” said Doody. “He has deep knowledge of the Staples Advantage business and has been a driving force in unifying our total portfolio of products, services and expertise for our contract customers. There is no one better qualified to lead the growth of Staples Advantage in the years to come.”
Last fall, Staples introduced an upgraded StaplesAdvantage.com that includes features more typically founds on customer-facing e-commerce sites. At the time, Staples said that 4 million consumers use its b2b site, and that they generate 25 million annual transactions. A Staples spokesman says Staples Advantage generates 90% of its revenue via online orders and brought in $7 billion in revenue last year.