Staples Inc. profit drops in second quarter

Notebooks and pencils helped Staples Inc. (SPLS) offset weak sales of office equipment and meet Wall Street's expectations during the second quarter.

Tuesday morning, the world's largest office supply retailer reported net income of $92 million for the quarter ended August 1, down 38 percent from the same time last year, or 13 cents per share. After factoring out $30 million in restructuring expenses, it worked out to 16 cents per share, just as analysts had expected.