Investing.com - The largest U.S. office supplies chain Staples reported third quarter earnings that were largely in line with expectations, despite missing on revenue figures, it announced early Wednesday.
Earlier in the day, in its third quarter earnings report, Staples said earnings per share came in at USD0.42, in line with forecasts.
The company’s third quarter revenue totaled USD6.11 billion, a decrease of 4% from the same period a year earlier and below expectations for revenue of USD6.18 billion.
“We continue to face weak demand for core office supplies, but were driving growth online and in new categories, while aggressively managing expenses,” commented Ron Sargent, Staples chairman and chief executive officer.
The company expects full year 2013 sales to decrease in the low single-digits compared to 2012 sales on a 52 week basis of USD23.9 billion.
Immediately following the release of the report, Staples shares rose 1% 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 0.15% at the open, S&P 500 futures dipped 0.15%, while the Nasdaq 100 futures indicated a drop of 0.1% at the open.