Staples Inc. (SPLS - Analyst Report), a leading retailer of office products and services, released second-quarter fiscal 2015 results. Adjusted earnings of 12 cents per share came in line with the Zacks Consensus Estimate and remained flat with the year-ago quarter.

Driven by expectations of sequential increase in the effects of negative currency translations, Staples provided an uninspiring sales and earnings guidance for the third-quarter fiscal 2015. While the company expects sales to fall year over year in the third quarter, it expects earnings in the range of 33–36 cents per share. For fiscal 2015, the company still anticipates to generate over $600 million of free cash flow.

Earnings Estimate Revision: The Zacks Consensus Estimate for Staples has remained stable in the last 30 days. In the trailing four quarters, including the quarter under review, the company has an average positive surprise of 0.8%.

Revenues: Staples’ total sales declined 5.4% year over year to $4,937 million and missed the Zacks Consensus Estimate of $4,961 million. However, on a currency neutral basis and excluding the impact of North American store closures, sales rose 1%.

Zacks Rank: Currently, Staples carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.