Staples Boost Earnings on Flat Sales

FRAMINGHAM, MA-The office supply giant says it expects sales increases in the low single digits for the third quarter and full-year 2010.

By Paul Bubny | Updated on August 19, 2010

FRAMINGHAM, MA-Office supply giant Staples Inc. said Thursday it increased its second-quarter net income 40% year over year to $140 million on flat quarterly sales. The locally based retailer said it expects low-single-digit sales gains year over year for this quarter.

Staples’ North American delivery business increased 2% over Q2 2009 to $2.4 billion, while its North American retail sales similarly rose 2% year over year to $2.1 billion. The international segment declined 6% from Q2 ’09 to reach $1.2 billion. Year-to-date sales as of July 31 were $11.6 billion across the three business segments, up slightly from the 26-week totals for ‘09.

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