Staples Reports Q4 Results in Yr 2016

Staples, Inc. (Nasdaq: SPLS) has announced the results for fourth quarter (Q4) and fiscal year 2016 ended on January 28, 2017.

According to the company, total sales for Q4 2016 were $4.6 billion, fell 3% compared to Q4 2015.

Other highlights about the results include:

• Net loss from continuing operations was $615 million, or $0.94 per share on GAAP basis;
• Q4 2016 results from continuing operations included pre-tax charges of $791 million;
• Total company comparable sales for Q4 2016 declined 1% compared to Q4 2015;
• Non-GAAP net income from continuing operations was $161 million, or $0.25 per diluted share;
• For the full year 2016, total company sales decreased three percent to $18.2 billion compared to full year 2015.
• Total company comparable sales declined 1% versus the prior year.

“Our fourth quarter results were right in-line with our expectations, and I’m increasingly confident that we have the right plan and the right team to transform Staples and get back to sustainable sales and earnings growth,” said Shira Goodman, Staples’ Chief Executive Officer. “I am particularly proud of our ability to grow our delivery business by continuing to enhance our offering and satisfy our business customers,” she continued.

Detailed information at: http://investor.staples.com/

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