NEW YORK (TheStreet) -- Staples (SPLS - Get Report) stock is plummeting Tuesday after the company recorded profits lower than analysts expected and as second-quarter earnings guidance fell short of forecasts. By early afternoon, shares had dropped 12.9% to $11.66.
In its first quarter, the retailer earned 18 cents a share, 3 cents lower than analysts surveyed by Thomson Reuters expected.
Over the three months to July, management expects net income of 9 cents to 14 cents a share, below consensus of 15 cents a share.
- You can view the full analysis from the report here: SPLS Ratings Report
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