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.

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.