Shares of Staples are down almost 4% in pre-market trading Thursday after missing on both earnings and revenue.
ADVERTISEMENT
Staples sinks after missing on earnings and revenue (SPLS)
The office supplies retailer reported a net loss of $615 million, or $0.94 per share, for Q4 2016
null
ADVERTISEMENT
The office supplies retailer reported a net loss of $615 million, or $0.94 per share, for the fourth quarter of 2016 against.
Adjusted non-GAAP earnings came in at $0.25 per share, one cent below the consensus estimate.
Total sales stood at $4.6 billion, a drop of 3% from the same period last year, and below the Wall Street estimate of $5 billion.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
10 African countries with the lightest debt burden in 2024
Sale of African skulls in a British museum comes to light
Coinremitter claims to be a leading crypto payment gateway in the market
African countries projected to gain the most rich people
Nigeria claims $600m Maersk deal sealed but the company seems unaware of such deal
5 African countries Prince Harry and Meghan, Duchess of Sussex have visited
African countries are asserting their sovereignty amidst a global race for resource acquisition: The elite in the diaspora should be ready to facilitate.
Top 10 African countries that have the most smokers