Staples Reports 39% Decline in First-Quarter Profit
By Lisa Beilfuss – May 20, 2015 Staples Inc. reported a 39% decline in first-quarter profit, as sales continued to decline and store traffic dwindled, deepening the chain’s challenges as it awaits regulatory approval for its takeover of rival Office Depot Inc. Shares fell 1.9% in morning trading. Year-to-date, shares have dropped 11.7%. Chief Executive…