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Staples quarterly profit misses analysts' estimates

A family leaves the Staples store in Broomfield, Colorado August 17, 2011 as the back-to-school shopping season begins. REUTERS/Rick Wilking
A family leaves the Staples store in Broomfield, Colorado August 17, 2011 as the back-to-school shopping season begins. REUTERS/Rick Wilking

(Reuters) - Staples Inc reported a slightly lower-than-expected quarterly profit on Wednesday, hurt by a stronger dollar and weak sales in Europe and Australia.

The largest U.S. office supplies retailer said income from continuing operations fell to $170.4 million, or 26 cents a share, in the first quarter ended on May 4 from $192.9 million, or 28 cents a share, a year earlier.

Analysts on average were looking for a profit of 27 cents a share on that basis, according to Thomson Reuters I/B/E/S.

(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)

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