Hadley Malcolm, USA TODAY
Staples missed second quarter earnings estimates as it continues to recover from store closures and competition in the office technology sector.
Its stock is down more than 13% going into the afternoon.
The company reported income of $104 million, or 16 cents a share, compared to $125 million, or 19 cents a share for the same period last year. Sales decreased 2% to $5.3 billion.
"We drove online sales growth and aggressively managed expenses during the second quarter, but this progress was offset by weakness in our retail stores and international businesses," CEO Ron Sargent said in a release.
Staples closed 103 stores in the 12 months prior to the second quarter. Sales are stores open at least year were down 3%, due to less foot traffic and lower average purchases, particularly in Europe. U.S. store sales were up 1.3% while international store sales declined 8.3%.
The company expects 2013 sales to decrease in the low single digits compared to last year.