Framingham, MA-based office supplies cataloger/retailer Staples (Nasdaq: SPLS) announced several initiatives on Aug. 16 that will greatly expand its international business.
Staples agreed to acquire Vienna-based Pressel Versand International and the office products division of Malling Beck A/S of Denmark. The deals, which are expected to close in the fall, expand Staples’ European catalog operations into Denmark, the Netherlands, Austria, Switzerland, Poland, Hungary, and the Czech Republic and complement existing operations in Germany, France, and Belgium. These two acquisitions are expected to add annual profitable sales of approximately 25 million euros
The other venture has Staples in a joint venture with Chinese Internet and catalog delivery business OA365. This provides Staples with an entry into the world’s fastest-growing business market.
Staples also announced results for its second quarter ended July 31. Total revenue increased 9%, to $3.09 billion from $2.83 billion for the second quarter of last year. Net income rose 39%, to $122 million. North American Delivery sales, which include the Staples and Quill catalogs, increased 11%, to $980 million; the division’s operating income rose 22%, to $88 million. North American retail sales increased 7%, to $1.70 billion, while comparable sales rose 4%. European sales grew 15%, to $409 million.