Staples sinks after missing on earnings and revenue (SPLS)

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March 9, 2017 12:47 PM

The office supplies retailer reported a net loss of $615 million, or $0.94 per share, for Q4 2016

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Shares of Staples are down almost 4% in pre-market trading Thursday after missing on both earnings and revenue.

The office supplies retailer reported a net loss of $615 million, or $0.94 per share, for the fourth quarter of 2016 against.

Adjusted non-GAAP earnings came in at $0.25 per share, one cent below the consensus estimate.

Total sales stood at $4.6 billion, a drop of 3% from the same period last year, and below the Wall Street estimate of $5 billion.

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