Aug 21, 2013

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Investors Spotlight: J.M. Smucker Co. (NYSE:SJM) and Staples Inc. (NASDAQ:SPLS)

Investors Spotlight: J.M. Smucker Co. (NYSE:SJM) and Staples Inc. (NASDAQ:SPLS)

J.M. Smucker Co. (NYSE:SJM) reported on Wednesday that its fiscal 2014 first-quarter profit jumped up to $126.6 million, or $1.19 per share, as compared to $110.9 million, or $1.00 per share, in the year-earlier same quarter.

Net sales crept down 1% to $1.35 billion, as compared to $1.37 billion a year ago. Experts surveyed by FactSet had predicted earnings of $1.20 on revenue of $1.34 billion per share in the initial quarter.

The firm, which possesses brands consisting of Smucker’s, Folgers and Pillsbury, reported that it predicts fiscal 2014 sales to decline almost 1% and estimates revised per-share earnings of $5.72 to $5.82 for the quarter.

Staples Inc. (NASDAQ:SPLS) on Wednesday came short of Wall Street’s earnings targets as it reported sluggish sales and earnings for the second quarter.

The office-products retailer reported best performance in online sales, which was masked by decline in retail stores and international divisions.

Staples reported that it earned $102.5 million, or 16 cents per share in the second quarter, as compared to $120.4 million, or 18 cents per share a year earlier.

Sales for the firm declined to $5.31 million, as compared to $5.43 million in the year-earlier same quarter. A poll of experts survey by FactSet were estimating earnings of 18 cents. Staples reported its results were lower than predicted and revised its sales and earnings guidance.

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