Staples, Inc. (Nasdaq: SPLS) announced today the results for its fourth quarter and fiscal year ended February 2, 2013.
Fourth Quarter 2012 Financial Summary
|(dollar amounts in millions)||2012||2011||Change|
|Total company sales||$6,568||$6,374||3.0%|
|Total company sales excluding the 53rd week in 2012*||$6,107||$6,374||(4.2%)|
|GAAP operating income||$314||$469||($155)|
|Non-GAAP operating income*||$495||$469||$26|
|GAAP operating income rate||4.8%||7.4%||(257 basis points)|
|Non-GAAP operating income rate*||7.5%||7.4%||18 basis points|
|GAAP earnings per share from continuing operations attributable to Staples, Inc.||$0.14||$0.41||(66%)|
|Non-GAAP earnings per diluted share from continuing operations attributable to Staples, Inc.*||$0.46||$0.41||12%|
*Indicates a non-GAAP measure. Refer to “Presentation of Non-GAAP Information” and the accompanying reconciliations for more detailed information about these non-GAAP measures. Fourth quarter 2012 non-GAAP measures include results for the 53rd week in 2012, unless otherwise noted.
“During the fourth quarter we did a great job managing expenses in a challenging sales environment,” said Ron Sargent, Staples’ chairman and chief executive officer. “We’re making progress toward our new vision: Every product your business needs to succeed.”
Total company sales for the fourth quarter of 2012 were $6.6 billion, an increase of three percent compared to the fourth quarter of 2011. Excluding $461 million of sales for the 53rd week in fiscal year 2012, total company sales decreased four percent compared to the fourth quarter of 2011.