Staples sales miss estimates on weak Europe, North America

March 6 Wed Mar 6, 2013 6:16am EST

March 6 (Reuters) - Staples Inc, the largest U.S. office supply chain, reported lower-than-expected quarterly revenue due to weak sales in Europe and North America.

Many investors look at office-supply retailers as a barometer of economic health because demand for their products is closely tied to white-collar employment rates.

The net income fell to $78.1 million, or 12 cents per share, in the fourth quarter ended Feb. 2, from $283.6 million, or 41 cents per share, a year earlier.

Sales rose 3 percent to $6.56 billion, but missed Wall Street's average expectation of $6.72 billion, according to Thomson Reuters I/B/E/S.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

A tourist takes a plunge as she swims at Ngapali Beach, a popular tourist site, in the Thandwe township of the Rakhine state, October 6, 2013. Picture taken October 6, 2013. REUTERS/Soe Zeya Tun (MYANMAR - Tags: SOCIETY) - RTR3FOI0

Where do you want to go?

We look at when to take trips, budget considerations and the popularity of multigenerational family travel.   Video