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Staples profits, sales still on the decline
Staples says its reinvention is on track despite a disappointing financial performance in the third quarter.
For the third quarter ended Oct. 31, Staples reported a profit of $198 million. Same-store sales decreased 2%. On a per-share basis, the Framingham, Massachusetts-based company said it had profit of 31 cents. Earnings, adjusted for non-recurring costs, came to 35 cents per share. The results matched Wall Street expectations. Revenue was $5.59 billion, which fell short of Street forecasts.
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Update on EMV migration
EMV adoption by consumers is on the rise, even as merchants are struggling to catch up.
Those are among the key findings of a survey by Ingenico Group, which found that 60% of U.S. cardholders have received EMV cards from their banks/card issuers.
Out of the U.S. cardholders who have both EMV and magstripe cards, 54% prefer magstripe cards over EMV cards, with 44% attributing their preference to habit.
For more, click on the infographic below:
