The largest U.S. office supplies chain Staples reported weaker than expected second quarter earnings as revenue figures came in below estimates, it announced early Wednesday.
Staples said earnings per share came in at $0.12 in the three months to August, down from $0.13 per share in the same period last year. The company’s second quarter revenue totaled $4.94 billion, missing forecasts for revenue of $4.96 billion.
Sales growth was negatively impacted due to store closures during the past year Staples said, while changes in foreign exchange rates were also a factor.