STAPLES SALES DROP 4% AS STRUGGLES CONTINUE

Staples said Wednesday sales fell 4% during its second quarter, falling to $4.75 billion, slightly lower than the $4.76 billion anticipated by Wall Street analysts. Staples posted a loss of $766 million, or $1.18 per share, on a GAAP basis for the quarter ending July 30, compared to net income of $36 million, or 6 cents a share, in the same year-ago period. Shares fell 7% Wednesday to close at $8.67.