Staples (SPLS) Shares Lower Despite Q4 Beat; Light Growth Expected
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Price: $55.47 +0.56%
Financial Fact:
Amortization of intangibles: 14M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Amortization of intangibles: 14M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of Staples, Inc. (Nasdaq: SPLS) are indicated for a lower open Wednesday following its fourth-quarter report, issued earlier in the session.
Sales saw a modest increase from $6.42 billion in the same period last year to $6.46 billion, a 0.7 percent move higher.
Net income for the office supply retailer improved 3.2 percent to $283.59 million, or 41 cents per share.
Analysts on the Street were expecting revs of $6.45 billion and EPS of 40 cents.
North American Retail comps rose 2 percent. For its International segment, Staples said, "top line growth in European Contract was more than offset by a nine percent decrease in comparable store sales in Europe and weak sales in Australia."
Looking ahead, Staples sees slower growth in the U.S. coupled with soft demand in Europe. The company said "including the impact of the 53rd week in fiscal 2012, the company expects full year sales to increase in the low single-digits compared to the prior year, and full year diluted earnings per share to increase in the high single-digits versus adjusted diluted earnings per share of $1.37 achieved in 2011." The Street is currently expecting EPS of $1.49 and revs of $25.38 billion.
Staples shares are set to open about 1.5 percent lower Wednesday.
Sales saw a modest increase from $6.42 billion in the same period last year to $6.46 billion, a 0.7 percent move higher.
Net income for the office supply retailer improved 3.2 percent to $283.59 million, or 41 cents per share.
Analysts on the Street were expecting revs of $6.45 billion and EPS of 40 cents.
North American Retail comps rose 2 percent. For its International segment, Staples said, "top line growth in European Contract was more than offset by a nine percent decrease in comparable store sales in Europe and weak sales in Australia."
Looking ahead, Staples sees slower growth in the U.S. coupled with soft demand in Europe. The company said "including the impact of the 53rd week in fiscal 2012, the company expects full year sales to increase in the low single-digits compared to the prior year, and full year diluted earnings per share to increase in the high single-digits versus adjusted diluted earnings per share of $1.37 achieved in 2011." The Street is currently expecting EPS of $1.49 and revs of $25.38 billion.
Staples shares are set to open about 1.5 percent lower Wednesday.
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