"Consumers are buying less stuff as they worry about the future."
Staples Inc. on Tuesday said its second-quarter profit rose 11 percent as lower sales of items such as office furniture were offset by gains at its copy and print centers.
But the world's biggest office products supplier slightly pulled back its full-year earnings expectations amid a sluggish North American retail market. Its latest profit increase was largely driven by its overseas and product delivery businesses.
Its shares fell 1 cent to $23.30 Tuesday.
Framingham-based Staples reported net income of $178.8 million, or 25 cents per share for the three months ended Aug. 4 compared with a profit of $161.2 million, or 22 cents per share, a year earlier. Read more
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Staples Inc. on Tuesday said its second-quarter profit rose 11 percent as lower sales of items such as office furniture were offset by gains at its copy and print centers.
But the world's biggest office products supplier slightly pulled back its full-year earnings expectations amid a sluggish North American retail market. Its latest profit increase was largely driven by its overseas and product delivery businesses.
Its shares fell 1 cent to $23.30 Tuesday.
Framingham-based Staples reported net income of $178.8 million, or 25 cents per share for the three months ended Aug. 4 compared with a profit of $161.2 million, or 22 cents per share, a year earlier. Read more
More...