On Wednesday, Shares of Staples, Inc. (NASDAQ:SPLS), lost -0.21% to $14.12.
Staples, declared the results for its second quarter ended August 1, 2015. Total company sales for the second quarter of 2015 were $4.9 billion, a decrease of five percent contrast to the second quarter of 2014. On a GAAP basis, the company stated net income of $36 million, or $0.06 per diluted share. Second quarter 2015 results on a GAAP basis comprise pre-tax charges of $24 million related to restructuring and related activities, in addition to $34 million related to the acquisition of Office Depot.
Total company sales raised one percent during the second quarter, not taking into account the impact of store closures in North America during the past year and changes in foreign exchange rates. Not taking into account the impact of charges taken during the second quarter of 2015, the company stated non-GAAP net income of $76 million, or $0.12 per diluted share, contrast to second quarter 2014 non-GAAP net income of $75 million, or $0.12 per diluted share.
Second Quarter 2015 Highlights
- Achieved North American Commercial sales growth of three percent.
- Grew North American copy and print sales in comparable stores, Staples.com and Contract.
- Raised total company gross profit as a percentage of sales by 54 basis points on a GAAP basis, or 44 basis points after not taking into account a $5 million charge related to inventory write-downs in the preceding year.
- Grew operating income in North American Commercial and North American Stores and Online.
- Secured more than $50 million of annualized cost savings during the second quarter of 2015.
- Secured more than $400 million of annualized cost savings since the startning of 2014, as part of a formerly declared plan to eliminate at least $500 million of annualized costs in 2014 and 2015 combined.
- Closed 15 stores in North America during the second quarter of 2015.
- Closed 212 stores in North America since the startning of 2014, as part of a formerly declared plan to close at least 225 stores in 2014 and 2015 combined.
Staples, Inc., together with its auxiliaries, operates office products superstores. It operates through three segments: North American Stores & Online, North American Commercial, and International Operations.
Shares of LyondellBasell Industries NV (NYSE:LYB), declined -1.45% to $84.93, during its last trading session.
LyondellBasell, declared that YPF S.A. and Grupo Inversor Petroquimica S.L. have accepted an offer to purchase LyondellBasell’s Argentina-based, wholly-owned partner Petroken Petroquimica Ensenada S.A. (Petroken). The sale is predictable to close in late 2015 following Brazilian antitrust authority (CADE) approval. The transaction is valued at $145 million on a debt and cash free basis. Based on working capital estimates as of June 30, 2015, predictable cash proceeds are $162 million. Petroken operates a 180 kiloton polypropylene plant in Ensenada and is a leading polypropylene producer in Argentina.
“As part of our long-term growth strategy, we will continue to focus on regions and assets that will have the greatest impact on value-creation for our shareholders,” said Tim Roberts, Executive Vice President, Global Olefins, and Polyolefins.
Until closing, Petroken will continue to provide the same level of support, service and high quality products to its customers.
LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers.
Finally, Expedia Inc (NASDAQ:EXPE), ended its last trade with -0.15% loss, and closed at $123.14.
RezNext and the Expedia group have collaborated to provide real-time availability of the suite of hotels RezNext works with in India to global markets. With the planned partnership, the Expedia group can now also provide its international customers easy access to real-time availability, promotions, and more products/services from leading hotels in India.
“Globally, consumers are looking for extra value from their travel spends. While hotels recently are adopting several such incentives, from delivering compelling content to unique packages, these components are not always visible internationally,” said Drew Bowering, Director, Global Partner Group, APAC at the Expedia group. “The Expedia group strives to deliver compelling experiences with robust customer engagement programs. The deeper integration with RezNext will assist us fulfill the discerning needs of international travellers, providing them more options across packages, room types and rate plans,” added Bowering.
With this partnership, hotels connected to the RezNext network will now have improved visibility among international guests across all time zones, resulting in improved conversions for hotels.
Expedia, Inc., together with its auxiliaries, operates as an online travel company in the United States and internationally. The company operates in two segments, Leisure and Egencia.
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