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Staples Meets Estimates but Swings to a Loss in the Second Quarter

Office supplies company Staples (SPLS) posted second-quarter earnings that were in line with expectations and flat with a year earlier, and said third-quarter profit likely would come in below results for the same quarter in 2015.

Staples posted adjusted earnings per share of 12 cents. Revenue came in modestly below consensus, down 4% at $4.8 billion, against expectations for turnover of $4.9 billion. Comparable-store sales fell...