Staples Sees FY 2011 EPS of $1.50 to $1.60

Staples

FY 2011 outlook: For the full year 2011, the company expects to achieve total company sales growth in the low to mid-single digits, and diluted earnings per share in the range of $1.50 to $1.60. The company expects full year 2011 earnings per share to benefit from the ongoing integration of Corporate Express, growth in high margin services business, reduced interest expense, share repurchases, as well as the expectation that its effective tax rate will return to approximately 34.5 percent. The company expects to generate more than $1 billion of free cash flow after spending approximately $500 million on capital expenditures.