UPDATE: Staples Posts Downbeat Q3 Sales

Staples SPLS posted a loss in the fiscal third quarter. Staples posted a quarterly loss of $596.3 million, or $0.89 per share, versus a year-ago profit of $326.4 million, or $0.47 per share. Excluding one-time items, Staples earned $0.46 per share. Its sales dropped to $6.35 billion. However, analysts were expecting earnings of $0.45 per share on revenue of $6.45 billion. Its gross margin declined to 27.6% from 28.1%. Staples shares closed at $11.25 yesterday.