14519 Tue, 05/20/2008 - 12:29pm
FRAMINGHAM, Mass.–Staples this morning reported a 6.4 percent growth in sales, reaching nearly $4.9 billion, for the first quarter ended May 3.
That generated a profit of $212.3 million, or 1.5 percent above the $209.1 million during the same quarter a year ago.
That rise in income reflected a growth of 30 cents per diluted share, or 3.4 percent above the 29 cents in the earlier period.
During the year, the retailer spent $65 million to repurchase 2.8 million of its shares. It opened 38 new stores worldwide, and reduced average inventory per store in its North American retail unit by 5 percent.