Staples 2Q profit falls 39 percent on charge
Framingham-based Staples Inc. said that its fiscal second-quarter profit dropped 39 percent on a hefty charge, but adjusted results met analysts' estimates.
The world's biggest office supply retailer said in a press release that net income for the period ended Aug. 1 fell to $92.4 million, or 13 cents per share, compared with $150.2 million, or 21 cents per share, a year ago.
Excluding a $30 million integration and restructuring expense, profit was 16 cents per share, meeting the expectations of analysts surveyed by Thomson Reuters. Analysts' estimates typically exclude one-time items.
Staples acquired Dutch office supply company Corporate Express NV in July 2008 for $2.7 billion.