Staples Inc. Income Drops 31%, Company Cuts Outlook

Net income for Staples Inc., Framingham, Mass., took a significant hit in the second quarter of 2012. The office supply retailer and parent company to Staples Advantage and Staples Promotional Products this week reported that earnings fell 31.8 percent for the period ended July 28, 2012, a result of a slowdown in U.S. retail sales and difficulties in international markets.