Staples sales miss estimates
November 14, 2012 10:56 PM EST
The company posted a net loss of $596.3 million, or 89 cents per share, for the third quarter, compared with a profit of $326.4 million, or 47 cents per share, a year earlier.
Excluding items, the company earned 46 cents per share.
Sales fell about 2 percent to $6.35 billion.
Analysts on average were looking for a profit of 45 cents per share on revenue of $6.45 billion, according to Thomson Reuters I/B/E/S.
Office supply chains are a good gauge of economic health because demand for their products is closely tied to white-collar employment rates.
Staples shares, which have fallen 21 percent this year, closed at $11.25 on the Nasdaq on Tuesday. (Reporting by Ranjita Ganesan and Chris Peters in Bangalore; Editing by Don Sebastian)
Most Popular Slideshows
- Prince Harry & Camilla Thurlow Getting Serious, St. Tropez Holiday Before The Prince’s 30th Birthday [PHOTOS]
- 2014 US Open: Hottest Male Tennis Players To Watch [PHOTOS]
- What Happens When You Give Up Sex For 12 Months? – Dialogue With Peter Lynagh – Exclusive
- 2014 US Open: Hottest Female Tennis Athletes [PHOTOS]
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- 5.5-Inch iPhone 6 is iPhone Air on Sept 19 Release Date: 5 Things to Consider Before Buying
- Pricey iPhone 6 on Release Date Likely but with 3X Retina Resolution & Mobile Payment Service – Reports
- Nexus 6 Release Date Update: Moto X+1 Look Leaked, Nexus X or Shamu Moved to Demo Phase
- Google Nexus 8 Confirmed as HTC T1 aka Volantis/Flounder with Freshly-Leaked Specs & Features – Reports
- HTC One M8 for Windows Vs. Nokia Lumia Icon, The Battle Of Windows Phones
- Europe, US Next on ISIS’ Hit List, Says Saudi King; Seized ISIS Laptop Reveals Terrifying Bio-Warfare Plans
- iPhone 6 On Release Date To Feature Qualcomm MDM9625M LTE, 1GB RAM, Mobile Payment Deal With AMEX, 1334x750 Display