Staples Inc. (Nasdaq: SPLS) reported higher fourth quarter earnings of 33 cents per share compared with 12 cents per share in the year ago period but the results fell short of expectations as revenue dropped and the office supplies retailer announced that it will close 225 stores. Shares of the office supplies retailer plunged $2.08 to $11.32.
Staples Falls Short
March 06, 2014 at 12:46 PM EST