Investing.com - The largest U.S. office supplies chain Staples reported worse-than-expected second quarter earnings as revenue figures came in below estimates, it announced early Wednesday.
Earlier in the day, in its second quarter earnings report, Staples said earnings per share came in at USD0.16, below expectations for earnings of USD0.18 per share.
The company’s second quarter revenue totaled USD5.31 billion, missing forecasts for revenue of USD5.37 billion.
The office supply retailer now expects full-year earnings per share to be in the range of USD1.21 to USD1.25.
Immediately following the release of the report, Staples shares plunged 12.5% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was mildly lower. The Dow Jones Industrial Average futures pointed to a loss of 0.3% at the open, S&P 500 futures dipped 0.35%, while the Nasdaq 100 futures indicated a drop of 0.4% at the open.