NEW YORK (Reuters) - Top U.S. office products retailer Staples Inc reported a higher quarterly profit, in line with estimates, as it gained market share from rivals in a weak U.S. economy.
Office Depot
While Office Depot forecast a flat operating profit in the current quarter, OfficeMax forecast lower sales in the period including the key back-to-school selling season.
In the second quarter that ended on July 31, STAPLES (SPLS.NQ)earned $129.8 million, or 18 cents a share, up from $92.4 million, or 13 cents a share, a year earlier.
Excluding items, it earned 20 cents a share.
Analysts on average expected the company to earn 20 cents a share, according to Thomson Reuters I/B/E/S.
Sales were almost flat at $5.53 billion.
Many investors look at office supplies retailers as a barometer of economic health since demand for their products is closely tied to white-collar employment rates.
(Reporting by Dhanya Skariachan; Editing by Derek Caney)
