Seeking Alpha

Traffic and margins slide at Staples, shares -9.5% early

  • Staples (SPLS) reports comparable-store sales fell 4% in Q1.
  • Store traffic was also down 4% for the period.
  • The company's operating income rate dived 270 bps to 3.5%.
  • Segment revenue growth: North American Stores and Online -4.9% to $2.63B; North American Commercial +0.7% to $2.06B; International Operations -3.9% to $964M.
  • Guidance for Q2 EPS is set by Staples at $0.09-$0.14 vs. $0.15 consensus.
  • SPLS -9.5% premarket to $12.09.
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