Staples Sales Beat Expectations

Staples Inc. reported second-quarter net income of $55 million, or 8 cents per share, after a loss of $766.0 million, or $1.18 per share, last year. Adjusted EPS was 12 cents, matching the FactSet consensus. Sales totaled $3.91 billion, down from $4.03 billion last year, and ahead of the $3.87 billion FactSet consensus. Same-store sales fell 1.1%, ahead of the FactSet estimate for a 5.1% decline. Staples shares are up 0.2% in Thursday premarket trading, and up 12.5% for the year so far. The S&P 500 index is up 9.2% for 2017 to date.