Business

Staples quarterly profit plunges 72 percent

Framingham-based Staples is the top office supply retailer. Smaller rivals Office Depot and OfficeMax plan to merge.

Associated Press/File 2011

Framingham-based Staples is the top office supply retailer. Smaller rivals Office Depot and OfficeMax plan to merge.

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Costs related to Staples Inc.’s turnaround plan helped drive down quarterly net income by 72 percent to $78.1 million, or 12 cents per share. The plan includes investing more in online and mobile efforts and adding products beyond office supplies. Staples lost $210.7 million, or 31 cents per share, for the full year. It anticipates 2013 earnings between $1.30 and $1.35. Analysts expect $1.44. Staples also said it is increasing its quarterly dividend to 12 cents per share from 11 cents.

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