August 25, 2009
Staples Q2 Profit Down $58M
By Matthew L. Brown
Framingham-based office supplies retailer Staples Inc.'s second quarter profit declined 38.5 percent to $92.4 million from $150.2 million a year ago.
The company said sales for the quarter increased 9 percent to $5.5 billion. Second quarter 2008 sales figures include $1.3 billion in Corporate Express sales recorded between May and June of that year, just prior to its acquisition by Staples.
Staples' operating income was $206 million for the quarter, down from $245 million a year ago. The company finished the quarter with $633 million in cash, about level with last year.
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