Staples, Inc., (SPLS): Founded in 1986, based in Farmingham, Massachusetts, Staples, Inc., operates as an office products retailer. The company sells office supplies and Services, business machines and related products, computers and related products, and office furniture from its 2,218 stores in 47 states and the District of Columbia in the United states.
Market is expecting a profit of 38 cents a share for the quarter ended October 2009, a drop of 4 cents compared to its actual profit of 42 cents a share it posted in the same quarter a year ago. The company posted profit of 36 cents, 22 cents and 16 cents in quarters ended January 2009, April 2009, and July 2009 respectively.
Shares are currently trading at around $23.32 just below its 52 week high of $23.65 with an average volume of over 6 million shares per trading day. Staples is in my BUY watch list for short term trading. Watch for earnings for third quarter ended October 2009, on Tuesday December 1, 2009, before market open.
UPDATE: Staples, Inc., an office supply retailer posted better than expected third quarter profit on Tuesday December 01, 2009. Net income rose to $269.4 million or 37 cents a share, from $156.7 million or 22 cents a share compare to year earlier. Excluding integration and restructuring costs of $16 million, profit was 39 cents per share, market was expecting a profit of 38 cents a share. Shares jumped about 4.46% and is trading at $24.36 recorded at 10:00 AM.
