Join        Login             Stock Quote

Staples (SPLS) Posts Loss In 3Q, Sales Off

 November 14, 2012 07:09 AM

(By Balachander) Staples Inc. (NASDAQ: SPLS) reported a loss for the third quarter amid lower sales. The office products company also backed its forecast for the year.

Non-GAAP earnings per share (EPS) from continuing operations attributable to Staples remained flat at 46 cents, versus consensus estimate of 45 cents.

On a GAAP basis, the company lost 85 cents a share from continuing operations, compared with EPS of 46 cents in the year-ago quarter.

Sales were $6.35 billion, down 2 percent in U.S. dollars and 1.4 percent on a local currency basis. Analysts' expected sales of $6.45 billion. 

[Related -Staples, Inc. (SPLS): How Q3 Earnings Will Fare?]

"During the third quarter we launched a new strategic plan to become the product authority for businesses, restructured our organization, and generated solid earnings excluding charges," said Staples CEO Ron Sargent.

North American Retail sales of $2.6 billion were flat. International sales dropped 12 percent in U.S. dollars.

Looking ahead for the full year, Staples still expects non-GAAP EPS from continuing operations to increase in the low single-digits on flat sales. Analysts expect EPS of $1.36 on sales of $24.77 billion.

SPLS shares, which have been trading between $10.57 and $16.93 over the past year, closed Tuesday's regular trading session at $11.25.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

article imageIs The Slump In US Manufacturing Easing?

Yesterday’s November survey data from the Philadelphia Fed hints at the possibility that a stronger trend read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.