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BOSTON (AP) - Office supply retailer Staples Inc. nudged its profit guidance lower on Tuesday, saying that the pressure to cut costs among consumers and businesses could slow already sluggish U.S. sales.
The forecast came as Staples reported profits rose 12 percent in the first quarter, when listless domestic sales growth was offset by strong gains in its office products delivery business and overseas operations.
Staples' shares fell 62 cents, or more than 2 percent, to $25.05 Tuesday.
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