Financial/Banking

Framingham, Mass. -- Staples Inc. reported Wednesday a loss of $596.3 million for the third quarter, compared with a profit of $326.4 million a year earlier. Without restructuring costs, the office supply retailer generated a profit that just edged Wall Street expectations.

Sales for the quarter dropped 2% to $6.35 billion, missing analysts’ expected $6.45 billion in sales.

New York -- Saks Inc. reported Tuesday that net income for the third quarter climbed 27.2% to $22.6 million, compared with $17.8 million in the same period last year. Results surpassed analysts’ expectations.
 
Revenue edged up 3% to $713.2 million, widely missing Wall Street’s expected $762.6 million in revenue. Same-store sales rose 3.3%.

Atlanta -- An improved housing market boosted Home Depot in its latest quarter, as the home-improvement retailer reported Tuesday that net income for the third quarter rose to $947 million from $934 million in the year-ago period.

Revenue climbed 4% to $18.13 billion, edging Wall Street’s estimated $17.92 billion in revenue. Same-store sales rose 4.3% in the U.S. and 4.2% overall.

Minneapolis -- In his Tuesday address to investors and stockholders in New York City, newly minted Best Buy Co. CEO Hubert Joly acknowledged that sales and profits are on a decline, and presented a plan to shore up finances and operations by cutting expenses, rethinking footprints and improving both offline and online customer satisfaction. Part of the plan involved tapping former Williams-Sonoma exec Sharon McCollam as its new CFO.

Atlanta -- An improved housing market boosted Home Depot in its latest quarter, as the home improvement retailer reported Tuesday that net income for the third quarter rose to $947 million from $934 million in the year-ago period.

Revenue climbed 4% to $18.13 billion, edging Wall Street’s estimated $17.92 billion in revenue. Same-store sales rose 4.3% in the U.S. and 4.2% overall.

New York -- Experian Marketing Services said Monday that its Consumer Expectation Index shows an increasing optimism about the economy. According to the CEI, U.S. consumers’ forward-looking view of the economy is at its highest level since the onset of the recession. During the first half of 2012, the average CEI figure was 92.7, which is above the index’s average of the first six months for each year dating back to 2008. The 2012 figure measured eight points above those for the first half of 2008 and one point over those for the first half of 2011.

Toronto -- Sears Canada Inc. reported Tuesday a loss of $21.85 million, compared with a loss of $44 million in the same period last year.

Revenue dropped 6.8% to $1.04 billion, and same-store sales slid 5.7%.

Pittsburgh -- Dick's Sporting Goods reported Tuesday that net income for the quarter ended Oct. 27 surged 21% to $50.1 million, compared with $41.5 million in the same period last year. The retailer cited strong online sales for the improved performance.

Revenue rose 11% to $1.31 billion, just edging Wall Street’s expected $1.3 billion, and same-store sales rose 5.1%. Online sales soared 46.7%