Staples profit misses estimates

Retail Reuters

NEW YORK (Reuters) - Staples Inc <SPLS.O> reported a lower-than-expected quarterly profit on higher costs and weak demand for office supplies in an uneven economy.

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The largest U.S. office supply retailer said its net profit rose to $198.2 million, or 28 cents a share, from $188.8 million, or 26 cents a share, a year earlier.

Analysts on average were expecting a profit of 32 cents a share, according to Thomson Reuters I/B/E/S.

Sales rose 2 percent to $6.17 billion, missing with the analysts' average estimate of $6.2 billion.

(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)

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