Staples Sales Flat, Profits Surge
Framingham-based Staples Inc. reported a 40 percent increase in profits to $130 million for the second quarter, despite sales remaining relatively flat at $5.5 billion.
North American deliveries were up 2 percent to $2.4 billion and North American retail also rose about 2 percent to $2 billion. The company reported increased customer volume but smaller order sizes per customer. Foreign currency exchange rates benefited the earnings.
International sales decreased 6 percent to $1.2 billion, the company said.
Profits were gained from a decrease in the cost of goods being sold and expenses shrinking slightly compared to a year earlier.
The profits, despite being up from last year, were down from the first quarter of the year when the company made a $189 million profit on sales of $6.1 billion.
WBJ Web Partners
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