Staples Sales Rise, But Profits Slip

Second-quarter sales for catalog/retailer Staples grew 9%, to $5.5 billion for the three months ended Aug. 1. Sales from its North American Delivery Business — which includes the Staples and Quill catalogs and online businesses as well as the Staples contract delivery business — grew 18%, to $2.3 billion.

Staples’ North American retail sales decreased 5%, to $2.0 billion, while same-store sales slipped 5%. Total international sales rose 21%, to $1.2 billion. The office supplies cataloger/retailer’s profits took a hit. Net income sank 38%, to $92.4 million, compared to $150.2 million in the same period last year.

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