News

Staples Q3 profit up 13%, lowers full-year outlook

BY Katherine Boccaccio

Framingham, Mass. — Staples Inc. reported Tuesday that profit for the third quarter climbed 13% to $326.4 million, from $288.7 million a year earlier. Earnings met Wall Street expectations.

Revenue rose 1% to $6.57 billion from $6.54 billion, missing analysts’ expected $6.71 billion. North American retail unit revenue was flat at $2.7 billion, with same-store sales down 1%. International revenue slid 7% on a local currency basis to $1.3 billion, leading the retailer to adjust its full-year forecast downward.

"International results were weaker than expected as tight expense management was more than offset by very challenging top line trends," Ron Sargent, chairman and CEO, said in a statement.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Home Depot posts another quarter of growth

BY CSA STAFF

ATLANTA — Stormy weather around the country had something to do with Home Depot’s third quarter sales gain of 2.9%. So did strength in core categories.

The world’s largest home improvement retailer posted a 4.2% comp-store sales gain for the quarter ended Oct. 30. Total sales increased 2.9% to $17.326 billion. And even bigger growth came in the net earnings column, where Home Depot reported a 13.0% increase and net earnings of $934 million.

“Our third quarter was driven by strength in our core categories and storm-related sales as well as strong operating performance,” said Frank Blake, chairman & CEO. “We will continue to invest in our core initiatives to provide customers with exceptional customer service and great product values. I would like to thank our associates for their hard work and dedication.”

At the end of the third quarter, the company operated a total of 2,246 retail stores in the United States and abroad.

Home Depot also announced that its board of directors declared a 16% increase in its quarterly dividend to 29 cents per share.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Home Depot’s Q3 profit up 12%

BY Katherine Boccaccio

Atlanta — Home Depot Inc. reported Tuesday that net income in the third quarter rose 12% to $934 million, compared with $834 million in the year-ago period. Storm-related repairs and spending on home projects gave the home-improvement retailer a third-quarter boost.

Revenue rose 4% to $17.33 billion from $16.6 billion last year, beating Wall Street’s expected $17.11 billion in revenue.

Same-store sales rose 4.2% globally and 3.8% in the United States.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...