Staples (SPLS) Misses Q4 EPS by 1c, Sales Miss; Comps Fell 0.9%

Staples (NASDAQ: SPLS) reported Q4 EPS of $0.25, $0.01 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $4.6 billion versus the consensus estimate of $5.04 billion.

“Our fourth quarter results were right in-line with our expectations, and I’m increasingly confident that we have the right plan and the right team to transform Staples and get back to sustainable sales and earnings growth,” said Shira Goodman, Staples’ Chief Executive Officer. “I am particularly proud of our ability to grow our delivery business by continuing to enhance our offering and satisfy our business customers.”

For the first quarter of 2017, the company expects to achieve fully diluted non-GAAP earnings per share from continuing operations in the range of $0.15 to $0.18. The company’s earnings guidance excludes potential charges related to the company’s strategic plans, including restructuring and related initiatives and the sale of its European operations. For the full year 2017, the company expects to generate at least $500 million of free cash flow. The company plans to close approximately 70 stores in North America in 2017.

For earnings history and earnings-related data on Staples (SPLS) click here.

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