UPDATE: Staples Posts Downbeat Q3 Sales
Staples (NASDAQ: 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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.