Staples Shares Fall After Q1 Profit Drops 39%

School-aged kids around the country might be looking forward to singing “no more pencils, no more books, no more teachers’ dirty looks” in a few short weeks, but school-and-office supplier Staples would likely much prefer that school does not let out for the summer. The retailer reported a 7% decline in first quarter sales and a 39% drop in first quarter profit Wednesday morning, and went on to note that it expects its second quarter sales to fall, too. As a result of this report, shares of Staples are in the red in early Wednesday trading.

from Forbes – Business
via Abogado Aly Business Consulting

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