Staples (SPLS) doesn't foresee a monumental change in the economy in the near-term, which doesn't bode well for 2012.
"I think we remain in a slow growth economy for business in North America and that's really driven by high unemployment and fear of the future," CEO Ron Sargent said during a conference call with analysts following third-quarter results.
Its international business, specifically Europe, also remains a concern."Softness in Europe is not surprising, and it is unlikely to change as debt issues morph into weaker and weaker economies," Janney Capital Markets analyst David Strasser wrote in a note. "Staples will aggressively cut G&A
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