Staples Sales, Profits Fall In Q1
Framingham-based office retailer Staples Inc. is seeing the impacts of store closings and weaker sales of some items, it reported today.
Staples reported first-quarter sales of $5.8 billion, down 4 percent compared to the same quarter in 2012. Profits were $169.9 million, down 9 percent.
Staples said its sales were negatively impacted by 48 store closures in the past year. The company also noted weaknesses in sales of computers, business machines and software and technology accessories. Those weaknesses were partially offset by growth in the sale of tablets, break room supplies, and copy and print services.
Commercial sales ticked up slightly during the quarter, from $2.01 billion to $2.04 billion. Online sales grew 3 percent, while comparable brick-and-mortar store sales fell 2 percent on lower customer traffic.
"We're driving growth online and in categories beyond core office supplies, and we look forward to building on our progress throughout 2013," Ronald Sargent, chairman and CEO, said in a statement.
Staples' expectations for the full fiscal year remained unchanged, predicting sales growth in the low single digits and diluted earnings per share between $1.30 and $1.35.
Read more
WBJ Web Partners
Most Recent
Most Recent
0 Comments