- Staples reported Q4 earnings of $212.38 million, or 33 cents per share, up from $78.06 million, or 12 cents per share, last year.
- On a Non-GAAP basis, earnings were 33 cents per share, above analysts' view of 39 cents per share.
- Revenue declined to $5.87 billion from $6.57 billion a year ago. Analysts expected to see quarterly revenue of $5.97 billion.
- The company said that it plans to close 225 stores by 2015 as part of its cost cutting measures.
- Looking forward, SPLS expects to see Q1 earnings between 17 and 22 cents per share, which would miss analysts' estimate of 27 cents per share.
Ron Sargent, chairman and CEO of SPLS commented: "A year ago, we announced a plan to fundamentally reinvent our company. With nearly half of our sales generated online today, we’re meeting the changing needs of business customers and taking aggressive action to reduce costs and improve efficiency."SPLS Declares Dividend SPLS announced that it will pay a 12 cent quarterly dividend on April 17 to shareholders of record on March 28. This payout will end the company's four year streak of consecutively raising its dividend. Stock Performance Staples shares were down $1.45, or 10.82%, during pre-market trading Thursday. The stock is down 15% YTD.