Staples faces struggles
Staples Inc., the world’s largest office-supply retailer, saw its stock price decline by the most in 11 years after cutting its full-year earnings forecast, Bloomberg reported.
Staples dropped 16 percent in Nasdaq trading, the largest intraday decline since March 2000. Before today, shares had fallen 14 percent this year. Staples’ first-quarter net income rose 5 percent from a year earlier to $198.2 million.
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