FRAMINGHAM (dpa-AFX) - Staples Inc. (SPLS) reported that its first-quarter profit from continuing operations decreased to $170 million or $0.26 per share from $193 million or $0.28 per share, last year. Net income to company was $169.93 million or $0.26 per share, compared to $187.06 million or $0.27 per share prior year.
Total company sales were $5.82 billion, a decrease of three percent from prior year. The company said its total company sales growth was negatively impacted by approximately one percent due to 97 store closures in North America and Europe during the 12 months preceding the first quarter of 2013.
On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.27 for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $5.91 billion for the quarter.
The company said its outlook for 2013 is unchanged. Staples expects full year 2013 sales to increase in the low single-digits compared to 2012 sales on a 52 week basis of $23.9 billion. The company expects full year 2013 profit per share from continuing operations to be in the range of $1.30 to $1.35. Analysts expect the company to report full year 2013 profit per share of $1.33 on revenue of $23.84 billion.
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