Staples, Inc. (SPLS) Misses Q4 EPS by 6c; Issues Light Q1 Outlook

Staples, Inc. (NASDAQ: SPLS) reported Q4 EPS of $0.33, $0.06 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $5.87 billion versus the consensus estimate of $5.98 billion.

Comps fell 7 percent.

Sees Q1 2014 EPS of $0.17-$0.22, versus the consensus of $0.27. or the first quarter of 2014, the company expects sales to decrease versus the first quarter of 2013.

The company initiated a plan to close up to 225 stores in North America by the end of 2015. The company also initiated a multi-year cost savings plan which is expected to generate annualized pre-tax cost savings of approximately $500 million by the end of 2015. The savings are expected to come from supply chain, retail store closures and labor optimization, non-product related costs, IT hardware and services, marketing, sales force, and customer service.

For earnings history and earnings-related data on Staples, Inc. (SPLS) click here.

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