IN BRIEF (Page 17)

Staples profit drops

Top office products retailer Staples Inc reported a 38 percent drop in quarterly profit as costs increased. Net earnings fell to $92.4 million, or 13 cents a share, in the second quarter ended on Aug 1 from $150.2 million, or 21 cents a share, a year earlier.

Excluding a pretax integration and restructuring charge of $30 million, Staples earned 16 cents a share, in line with the average Wall Street forecast, according to Reuters Estimates.