Staples (SPLS) Reports In-Line Q3 EPS; Comps Fell 2%

Staples (NASDAQ: SPLS) reported Q3 EPS of $0.35, in-line with the analyst estimate of $0.35. Revenue for the quarter came in at $5.6 billion versus the consensus estimate of $5.67 billion.

Sales growth was negatively impacted by approximately four percent due to changes in foreign exchange rates. Store closures also negatively impacted third quarter 2015 sales growth by approximately three percent. Comparable sales, which combines comparable store sales and Staples.com sales growth excluding the impact of changes in foreign exchange rates, decreased two percent versus the prior year. Sales declines in mobility, business machines, technology accessories, and ink and toner were partially offset by growth in office supplies, copy and print, and furniture. Comparable store sales decreased two percent, reflecting a one percent decline in average order size and a one percent decline in traffic versus the prior year. Staples.com sales declined two percent in U.S. dollars and grew one percent on a local currency basis during the third quarter of 2015.

Guidance:

Staples sees Q4 2015 EPS of $0.26-$0.30, versus the consensus of $0.28.

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

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