Staples (SPLS) Reports In-Line Q2 EPS
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Staples (Nasdaq: SPLS) reported Q2 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenue for the quarter came in at $4.8 billion versus the consensus estimate of $4.78 billion.
Second Quarter 2016 Highlights
- Staples Business Advantage, the company’s North American contract business, achieved sales growth of one percent on a GAAP basis and three percent on a local currency basis after excluding a negative impact of approximately two percent due to the sale of the company’s Staples Print Solutions business during the second quarter of 2016.
- Excluding pre-tax charges of $953 million during the second quarter of 2016 and $34 million during the second quarter of 2015, the company improved operating income rate by 14 basis points on a non-GAAP basis.
- Grew operating income in North American Commercial by $8 million, or six percent, and improved operating income rate by 40 basis points versus the second quarter of 2015.
- Reduced operating losses in International Operations by $8 million, and improved operating income rate by 91 basis points versus the second quarter of 2015.
- Closed five stores during the second quarter of 2016 and 19 stores year to date in North America as part of a plan to close at least 50 stores in North America during 2016.
- Ended the second quarter of 2016 with $1.7 billion in liquidity, including $775 million in cash and cash equivalents.
Staples sees Q3 2016 EPS of $0.32-$0.35.
For earnings history and earnings-related data on Staples (SPLS) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Swift Transportation (SWFT) Tops Q3 EPS by 2c; Reaffirms
- Knowles (KN) Tops Q3 EPS by 7c; Guides Q4
- Republic First Bancorp (FRBK) Reports Q3 EPS of $0.03
Create E-mail Alert Related CategoriesEarnings, Guidance, Retail Sales
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!