STAPLES SEES WEAK NORTH AMERICA SALES

  • Print
  • mse-big-banner-new-03-17-2016-416716a-tonernews-web-banner-mse-212
  • clover-depot-intl-us-ca-email-signature-05-10-2017-902x1772
  • futor_902x177v7-tonernew
  • ink-direct-banner-902-x-177-v-1-2-big-banner-03-23-2017
  • 2toner1-2
  • 4toner4
  • banner-01-26-17b
  • 161213_banner_futorag_902x177px
  • 05 02 2016 429716a-cig-clearchoice-banner-902x177
  • cartridgewebsite-com-big-banner-02-09-07-2016
Share

STAPLES SEES WEAK NORTH AMERICA SALES

 user 2008-08-21 at 4:49:00 pm Views: 57
  • #20681
    http://www.marketwatch.com/news/story/staples-says-weakness-north-america/story.aspx?guid=%7B1166B003-3EA9-4ACD-BBAA-46A1ABA27E16%7D&dist=msr_4
    Staples sees weak North America cutting results
    NEW
    YORK aug 08  Staples Inc. said Tuesday its second-quarter sales will be
    weaker than anticipated due to growing weakness in the North American
    market.For the fiscal quarter ended Aug. 2, the Framingham, Mass.,
    office-supplies retailer said sales grew about 3% from a year ago while
    its earnings per share decreased about 15%. That would suggest earnings
    of 21 cents a share on sales of $4.42 billion. Analysts polled by
    FactSet Research are expecting, on average, second-quarter earnings of
    25 cents a share on sales of $4.57 billion.

    Shares of Staples fell 4% to close at $23.55.
    Last year the company said it earned 25 cents a share on sales of $4.29 billion.
    For
    the full year, Staples (SPLS) said it sees low single-digit sales
    growth and flat earnings per share. The comparison excludes a $38
    million pretax charge in 2007 for a class-action settlement and items
    related to its acquisition of Corporate Express.  Staples said it sees
    the Corporate Express merger adding slightly to earnings.Staples
    expects restructuring expenses for the deal to range from $30 million
    to $40 million in the back half of 2008, and to range from $50 million
    to $70 million in 2009