Staples, Inc. , a leading retailer of office products and services, released fourth-quarter fiscal 2016 results, wherein adjusted earnings of 25 cents per share came in line with the Zacks Consensus Estimate, but declined 4% from the year-ago period.
Management projects first-quarter fiscal 2017 adjusted earnings in the range of 15–18 cents a share.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has been stable in the last 7 days. In the trailing four quarters (excluding the quarter under review), the company missed the Zacks Consensus Estimate by an average of 0.2%.
Revenues: Staples generated total sales of $4,560 million that lagged the Zacks Consensus Estimate of $5,025 million and also declined 2.9% year over year. Comparable-store sales declined roughly 1%.
The company closed 48 outlets in North America in fiscal 2016. Moving ahead, it plans to shut down about 70 stores in North America in fiscal 2017.
Key Events: Staples has bought capital office products, which is an independent office products dealer, generating over $100 million of revenue in the preceding year. Further, it concluded the sale of its UK retail business.
Zacks Rank: Staples currently carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Staples’ earnings report!
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Staples (SPLS) Q4 Earnings in Line, Sales Lag Estimates
Staples, Inc. , a leading retailer of office products and services, released fourth-quarter fiscal 2016 results, wherein adjusted earnings of 25 cents per share came in line with the Zacks Consensus Estimate, but declined 4% from the year-ago period.
Management projects first-quarter fiscal 2017 adjusted earnings in the range of 15–18 cents a share.
Staples, Inc. Price, Consensus and EPS Surprise
Staples, Inc. Price, Consensus and EPS Surprise | Staples, Inc. Quote
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has been stable in the last 7 days. In the trailing four quarters (excluding the quarter under review), the company missed the Zacks Consensus Estimate by an average of 0.2%.
Revenues: Staples generated total sales of $4,560 million that lagged the Zacks Consensus Estimate of $5,025 million and also declined 2.9% year over year. Comparable-store sales declined roughly 1%.
The company closed 48 outlets in North America in fiscal 2016. Moving ahead, it plans to shut down about 70 stores in North America in fiscal 2017.
Key Events: Staples has bought capital office products, which is an independent office products dealer, generating over $100 million of revenue in the preceding year. Further, it concluded the sale of its UK retail business.
Zacks Rank: Staples currently carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Staples’ earnings report!
8 Stocks with Huge Profit Potential
Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in th making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>