Staples reiterates 12 cent EPS forecast

Staples Inc., the No. 2 U.S. office-supplies retailer, reiterated its
second-quarter earnings forecast of 12 cents a share as the
company sells more private-label products and adds stores.
The company also is on track to meet its earnings projection
of 79 cents to 83 cents a share this year, Chairman Thomas
Stemberg told investors at a Credit Suisse First Boston
conference.



Staples is increasing the amount of supplies sold under its
own brand such as paper and printer cartridges, while remodeling
stores with easier-to-use technology-product displays and lower
shelving. The Framingham, Mass.-based retailer is opening
75 new stores this year, Stemberg said.



The company is expected to earn 12 cents a share in the
second quarter and 83 cents for the year, the average estimate of
analysts polled by Thomson First Call. Staples had net income of
$40.4 million, or 9 cents, in the year-earlier second quarter.
Shares of Staples, which trails Office Depot Inc. in sales,
rose 13 cents to $19.96. They have risen 6.7 percent this year.


Bloomberg News