NEW YORK (TheStreet) -- Shares of Staples Inc. (SPLS) are up 1.89% to $11.84 in pre-market trade after it was reported that the office products company said its fiscal second quarter profit and sales declined, while planning to close underperforming stores and push sales growth online, the Wall Street Journal reports.
The company's profit came in toward the higher end of its projection, and the top line beat analysts' expectations, the Journal said.
For the quarter ended August 2, Staples reported a profit of $82 million, or 13 cents per share, compared with a profit of $103 million, or 16 cents per share, a year earlier. Excluding restructuring and other charges, earnings were 12 cents per share.
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- You can view the full analysis from the report here: SPLS Ratings Report
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