Despite the weak economy, Staples has outperformed its rivals, Office Depot and Office Max. Above, Demos Parneros, president of US retail.
(Paul Taggart/Bloomberg News/File 2011)
MASS. MOVERS
Staples’ profit rises, but sales disappoint
Despite the weak economy, Staples has outperformed its rivals, Office Depot and Office Max. Above, Demos Parneros, president of US retail.
(Paul Taggart/Bloomberg News/File 2011)
Staples Inc. said Tuesday that its profit climbed 13 percent in the third quarter, helped in part by improved sales of office and break room supplies to businesses. But overall revenue came in short of Wall Street expectations and the nation’s biggest office supply company cut its adjusted earnings forecast for the full year as its international performance weakened a bit. Its shares dropped.
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