Jefferies Cuts Price Target on Staples (SPLS) Following 4Q Miss and Soft Guidance
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Staples, Inc. Announces Fourth Quarter and Full Year 2015 Performance
March 4, 2016 6:00 AM ESTFRAMINGHAM, Mass.--(BUSINESS WIRE)-- Staples, Inc. (Nasdaq: SPLS) announced today the results for its fourth quarter and fiscal year ended January 30, 2016. Total company sales for the fourth quarter of 2015 were $5.3 billion, a decrease of seven percent compared to the fourth quarter of 2014. On a GAAP basis, the company reported net income of $86 million, or $0.13 per diluted share, compared to a net loss of $260 million, or $0.41 per share, in the fourth quarter of 2014. Fourth quarter 2015 results on a GAAP basis include pre-tax charges of $172 million primarily related to restructuring and the acquisition of Office Depot.... More
