UPDATE: Staples Posts Decline In Q1 Profit

Staples Inc (NASDAQ: SPLS) reported a drop in its first-quarter results.

Its quarterly net income declined to $187.1 million, or $0.27 per share, versus $198.2 million, or $0.28 per share, in the year-ago period.

The company's total sales dropped to $6.1 billion.

SPLS shares closed at $14.75 yesterday.

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