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Staples (SPLS) Stock Stumbles on Anticipated Earnings Decline

NEW YORK (TheStreet) -- Staples (SPLS - Get Report) stock is retreating 1. 97% to $12.46 on Tuesday as analysts forecast the company's profit and revenue to decline year-over-year.

The company is slated to post its third quarter 2015 earnings on Wednesday before the opening bell.

For the latest quarter, analysts are expecting the company to earn 35 cents a share on revenue of $5.67 billion.

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In the same period the year before, the company earned 37 cents a share on revenue of $5.96 billion.

Separately, Staples is considering transferring about $600 million in corporate contracts to Essendant (ESND) to gain regulatory approval to complete the $6.3 billion acquisition of Office Depot (ODP), the Wall Street Journal reports.

The Federal Trade Commission has been reviewing the merger for about 10 months due to antitrust concerns.

Based in Framingham, MA, Staples is an office-supply chain store with over 2,000 stores...