Wednesday, May 17, 2017

Staples stock down as Framingham co. sales decline

Staples Inc. shares slid yesterday, as the Framingham office supplies chain reported sales well below Wall Street expectations, primarily due to weak demand for technology products, office supplies, ink and toner.

Staples’ total sales fell 4.9 percent to $4.1 billion — missing analysts’ target by $350 million — with a 2.8 percent decrease in North American delivery sales and 8.2 percent drop in North American retail sales. Store closures negatively impacted the latter by about 2 percent. Same-store sales fell 6 percent.. . . more

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