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Staples (SPLS) Misses on Q4 Earnings & Sales, Falls Y/Y

Zacks Equity Research
Updated

Staples Inc. SPLS, a leading retailer of office products and services, released fourth-quarter fiscal 2015 results, wherein adjusted earnings of 26 cents per share missed the Zacks Consensus Estimate of 28 cents and plunged 16% year over year.

Earnings Estimate Revision: The Zacks Consensus Estimate for Staples has remained stable in the last 30 days. In the trailing four quarters, including the quarter under review, the company has an average negative surprise of 1.8%.

Revenues: Staples’ total sales declined 6.9% year over year to $5,268 million and also came below the Zacks Consensus Estimate of $5,404 million. On a currency neutral basis and excluding the impact of North American store closures, sales fell 2%.

For the first quarter of fiscal 2016, the company anticipates sales to fall compared with the prior-year quarter, while adjusted earnings per share is projected in the range of 16–18 cents. The company’s sales and earnings forecast takes into account the negative impact from currency swings. However, earnings guidance excludes any potential restructuring and costs related impacts from the company’s planned acquisition of Office Depot.

Zacks Rank: Currently, Staples carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

Check back later for our full write up on Staples’ earnings report!

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STAPLES INC (SPLS): Free Stock Analysis Report
 
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Zacks Investment Research