UPDATE: Staples Posts Downbeat Q1 Earnings

Staples SPLS reported weak earnings for the first quarter and kept its 2013 forecast unchanged. Staples' quarterly earnings per share dropped to $0.26, from $0.28, in the year-ago period. Its sales declined 3% to $5.815 billion from $6.025 billion. However, analysts were expecting earnings of $0.27 per share on revenue of $5.9 billion. Staples shares closed at $14.75 yesterday.