Staples, Inc. (SPLS) Misses Q1 EPS by 3c; Issues Light Q2 EPS Outlook

Staples, Inc. (NASDAQ: SPLS) reported Q1 EPS of $0.18, $0.03 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $5.7 billion versus the consensus estimate of $5.62 billion.

Comps fell 4 percent.

“We’re making progress meeting the changing needs of our customers as we reinvent Staples,” said Ron Sargent, Staples’ chairman and chief executive officer. “Despite a slow start to the first quarter, our results were in line with our expectations and we expect to build momentum throughout 2014.”

Staples sees Q2 2014 EPS of $0.09 - $0.14, versus the consensus of $0.15.

The company expects to record pre-tax charges in the range of $105 million to $155 million associated with restructuring and other related activities during the second quarter of 2014. For the full year, the company expects total pre-tax global restructuring and other related charges in the range of $240 million to $360 million. For the full year, the company expects to generate more than $600 million of free cash flow. The company’s free cash flow guidance reflects an expected use of cash in the range of $60 million to $100 million associated with its 2014 global restructuring and other related activities.

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

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