The Framingham, Massachusetts-based Staples, Inc (NASDAQ:SPLS) stock plunged to record low level since 2003 after the company lower its yearly sales and profit estimates amid slower expansion in the United States and tepid demand in Europe.
Shares of the office-supply retailer moved down 15% to settle in New York at $11.49 and marked the major drop since May 2011 and the record low level since March 2003. Shares of the company had the major drop in the Standard & Poor’s 500 Index.
The retailer reported results moved down short of its forecasts in the Q2 finished July 28 as United States expansion decelerated and demand remained weak in Europe and Australia.
The Labor Department reported that United States consumer prices were little changed previous month, showing corporations lack pricing power.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Office Depot Inc (NYSE:ODP) moved up +3.87% to end at $1.61, OfficeMax Incorporated (NYSE:OMX) rose +5.77% to settle at $5.32 while Stamps.com Inc (NASDAQ:STMP) jumped +0.31% to finish on Thursday at $19.19.
Staples, Inc (NASDAQ:SPLS) last session volume of 19.14 million shares was higher than its average volume of 12.63 million shares. The stock after opening at $11.33 hit high price of $11.49 and then closed at $11.38 by scoring -0.96%.
SPLS generated revenue of 24.95 billion in the following twelve months and earned $973.47 million. The Company showed a positive 3.90% in the net profit margin and as well as in its operating margin which remained 6.40%. Company’s annual sales growth for the past five year was 6.62%.
The SPLS past twelve months price to sales ratio was 0.31 and price to cash ratio remained 6.51. As far as the returns are concern, the SPLS return on equity was recorded as 13.56% and increased 10.10% return on investment while its return on asset stayed at 7.17%.
The stock showed weekly downbeat performance of -14.50% which was maintained for the month at -11.02%. Likewise the negative performance for the quarter was recorded as -13.20% and for the year was -18.01% while the YTD performance remained at -16.81%.
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