Staples Bonds Move Higher on Third-Quarter Earnings Rise

Sycamore Partners-backed Staples Inc. released preliminary third-quarter earnings that stacked higher on a year-over-year basis due in part to continued cost-saving initiatives, according to people with knowledge of the situation.

• The office-supply chain had adjusted earnings before interest, taxes, depreciation and amortization in the range of $250 million to $255 million in the quarter that ended Oct. 28, up from $225 million in the prior-year period, said the people, who asked not to be identified because the results are private
• Revenue for the quarter was in the $2.555 billion to $2.565 billion range, compared to $2.645 billion last year, ...