Before market open, shares had dropped 10.5% to $11.98.
In its first quarter, the retailer earned 18 cents a share, 3 cents lower than analysts surveyed by Thomson Reuters expected. Revenue of $5.65 billion came in just over estimates of $5.61 billion.
TheStreet Ratings team rates STAPLES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate STAPLES INC (SPLS) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including poor profit margins, weak operating cash flow and a generally disappointing performance in the stock itself."
- You can view the full analysis from the report here: SPLS Ratings Report