FRAMINGHAM, Mass. (AP) — Staples' fiscal fourth-quarter net income dropped 72 percent, dragged down by charges related to store closings and other matters. Its adjusted results topped Wall Street's view, but its forecast for 2013 was below analysts' estimates.
The office supplies company also announced Wednesday that it is increasing its quarterly dividend by 9 percent.
For the period ended Feb. 2, Staples Inc. earned $78.1 million, or 12 cents per share. That's down from $283.6 million, or 41 cents per share, a year earlier.
Excluding charges tied to stores closings and other items, earnings from continuing operations came to 46 cents per share. Analysts expected 45 cents per share.
Revenue for the Framingham, Mass., company rose 3 percent to $6.57 billion from $6.37 billion, helped by an extra week in the period. Wall Street forecast $6.71 billion.
Destroying Gun Control With A Single Question - Bearing Arms - Gun Control, Video
The truth about gun deaths: numbers and actual solutions
Skin privilege: Portland State students learn that 'to preserve whiteness is to preserve racial injustice' - twitchy.com
All Good Things . . . | RedState
Paul Tracy - How to Own Government Bonds Yielding 8.7%
Don't Scuttle the Sequester | Human Events
A Liberal MSNBC Host Just Called This GOP Candidate 'Terrifying' to Democrats