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Staples, Inc. Message Board

  • ron.wallach ron.wallach Feb 29, 2012 12:38 PM Flag

    news out


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    Wed Feb 29, 2012 11:05am EST

    * Q4 EPS $0.41 vs est $0.40

    * Q4 rev $6.46 bln vs est $6.45 bln

    * Shares down 7 pct

    Feb 29 (Reuters) - Staples Inc, the largest U.S. office supply chain, forecast lower-than-expected sales for the year, as its international business takes a hit from weak demand in Europe, sending its shares down 7 percent.

    The company, which operates in 26 countries throughout North and South America, Europe, Asia and Australia, expects full-year sales to increase in the low single-digits, after fourth-quarter revenue outside the United States fell 5 percent.

    In Europe, Staples sells to companies which are themselves grappling with slowing demand as a mix of inflation, high unemployment and government austerity keeps shoppers home.

    However, a Staples executive said on a conference call with analysts, "Clearly (the international business) feels to us like a business that we need to fix, rather than a business that we need to be looking to get out of."

    Net income for the fourth-quarter rose to $283.6 million, or 41 cents a share, from $274.7 million, or 38 cents a share, a year ago.

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