March 1, 2007
Office supply biz good for Staples
By Christina Davis
Framingham-based Staples saw its profit rise 22 percent during the fourth quarter to $336 million, on $5.3 billion in sales.
The office supply retailer was helped by an extra week during the fourth quarter compared with last year.
For the full year, sales reached $18.2 billion, a 13 percent increase compared to 2005 and profit totaled $974 million, a 24 percent increase.
Staples ended the year with 1,620 stores in North America, after opening 99 stores in 2006, including 23 stores in new markets and three stand alone Copy & Print shops in the Boston area.
The company also announced that it was upping its annual cash dividend 32 percent to 29 cents a share.
The office supply retailer was helped by an extra week during the fourth quarter compared with last year.
For the full year, sales reached $18.2 billion, a 13 percent increase compared to 2005 and profit totaled $974 million, a 24 percent increase.
Staples ended the year with 1,620 stores in North America, after opening 99 stores in 2006, including 23 stores in new markets and three stand alone Copy & Print shops in the Boston area.
The company also announced that it was upping its annual cash dividend 32 percent to 29 cents a share.
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