Jefferies Updates EPS Estimate on Staples (SPLS)

Jefferies is out with its report today on Staples SPLS, updating its Q4 estimate. In a note to clients, Jefferies writes, "Reflecting unfavorable weather in the month of January (important month in office products), we are adjusting our 4Q sales expectations down slightly. In turn we are reducing our Q4 EPS estimate by $0.01 to $0.39, coming in at the low end of management guidance of $0.39-$0.41." Jefferies maintains Buy and a $24 PT on SPLS. Shares of SPLS closed Friday at $22.25, a 1% increase from Thursday's close.