Staples 2Q Profit Drops 16%

FRAMINGHAM, Mass. (AP) — Staples says its second-quarter profit dropped 16 percent, hurt by slow sales in the U.S. at established stores.

The Framingham, Mass. office supply retailer said Wednesday its net income fell to $150.2 million, or 21 cents per share, from $178.8 million, or 25 cents per share.

Thomson Reuters says analysts expected profit of 21 cents per share.

Staples Inc. says sales jumped 18 percent to $5.07 billion from $4.29 billion. Analysts anticipated sales of 4.69 billion.

Same-store sales fell 7 percent as fewer customers come through the doors. Staples says sales of furniture, desktop computers, printers and digital cameras were also weak.

Staples says it expects low single-digit earnings per share growth for the full year.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
631 SW Commerce Pl. Topeka, Kansas 66615 phone: 785-272-6397 fax: 785-272-1363 email:
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 27805074 -
Gray Television, Inc.