Staples' Weak Earnings Report Hurts Office Supply Industry
Shares of Staples (NASDAQ:STPLS) plummeted 15 percent Wednesday morning after the company reported a 32 percent decline in profit in the second-quarter.
Investors may be speculating that Staples' miss is on account of a declining paper and ink market. If so, this could have disastrous consequences for the entire industry.
Shares of Staples traded near $11.30 on Wednesday.
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