Jim Cramer Blog

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 41 cents, or 1.7 percent, to $22.90 in early trading 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.
Sales rose 11 percent to $4.29 billion from $3.88 billion a year ago.
The most recent quarter's results were in line with the consensus forecast of analysts surveyed by Thomson Financial, who expected net income of 25 cents per share on revenue of $4.3 billion.

Source: AP

Labels: SPLS, Staples Inc.