You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Staples Falls after Goldman Sachs downgrades stock

Staples Inc., the world’s largest office-supply retailer, fell the most in more than two months after Goldman Sachs Group Inc. downgraded the shares to “sell” from “neutral.”

Staples dropped 5.5 percent to $15.14 at 12:58 p.m. in New York, after earlier falling as much as 6 percent for the biggest intraday decline since Nov. 15. The shares slumped 39 percent last year.

Continue reading below

Matthew Fassler, an analyst at Goldman Sachs in New York, in a Jan. 29 note to investors described the outlook for the global printing segment as “tough.”

“Office superstore retail and delivery demand has not responded to improving employment trends and industrial production,” Fassler wrote.

Staples sells office supplies, furniture and technology in 26 countries including the U.S., Canada, U.K. and Germany. The Framingham, Massachusetts-based company posted revenue of $24.5 billion for the fiscal year ended January 2011.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.