US office supplies giant Staples warns on 2Q earnings

NEW YORK—Staples Inc. is warning that its second-quarter results, excluding its acquisition of Corporate Express, will be weaker than anticipated as American consumers pull back on spending.

Staples shares are down more than 6 percent in premarket trading.

The Framingham, Massachusetts-based office supply company says revenue rose about 3 percent and earnings per share fell about 15 percent in the quarter, compared to a year ago. At the end of the first quarter, Staples executives predicted that earnings per share would be flat in the second quarter.

Analysts polled by Thomson Reuters expected earnings per share of 25 cents and revenue of $4.49 billion, on average. That profit estimate assumes flat growth over last year's second quarter.