Staples closing 225 stores

Staples closing 225 stores

Forbes: The office-supplies retailer released disappointing fourth quarter earning results.

Staples reported $5.87 billion in fourth quarter revenue, missing Street expectations of $5.97 billion and marking a 10.6% drop over the fourth quarter of 2012. Fourth quarter operating income came in at $388 million, resulting in earnings of 33 cents per share, a 28% drop over the same time last year (on a non-GAAP basis) and 6 cents under the analyst consensus, which was calling for earnings of 39 cents per share.

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