Staples Q2 profit matches estimates

Staples, Inc. (NASDAQ:SPLS) witnessed a decline in the market cap on Tuesday as its shares dropped 0.56% or 0.08 points. The company expects to achieve fully diluted non-GAAP earnings per share in the range of $0.33 to $0.36 for the third quarter, due to the unfavorable impact of the stronger U.S. dollar on sales and earnings. The stock has a 50 day moving average price of $14.68 and a 200-day moving average price of $15.99.

Revenue decreased 5.4% to $4.94 billion this quarter, compared with $5.22 billion for the fiscal 2014 second quarter.

Asked by Morgan Stanley’s Simeon Gutman about how Staples (Nasdaq: SPLS) continues to deal with a shift in its retail strategy, Sargent was blunt.

The largest U.S. office supplies chain Staples Inc (NASDAQ:SPLS) reported weaker than expected second quarter earnings as revenue figures came in below estimates, it announced early Wednesday. During the same quarter in the prior year, the business posted $0.12 earnings per share.

Several other research firms have also recently commented on SPLS. Finally, Cleveland Research restated a “neutral” rating on shares of Staples in a research note on Friday, July 24th.

Shares of Staples have fallen 2% to $13.87, while Office Depot has fallen 1% to $7.59. Zacks upgraded Staples from a sell rating to a hold rating in a report on Wednesday, August 12th.

Separately, TheStreet Ratings team rates STAPLES INC as a Hold with a ratings score of C+. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Staples presently has a consensus rating of Hold and a consensus target price of $17.88. Customers routinely split purchases of office supplies and related products among many different suppliers, while restaurants primarily rely on one-stop shopping, he said. The Company operates in three business segments: North American Stores & Online, North American Commercial and global Operations. The worldwide Operations section includes companies in approximately 23 nations in Europe, Australia, South America and Asia. It serves companies in North America, Europe, Australia, South America and Asia. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and solid stock price performance.