Staples Inc.’s sales went up for the first quarter, while Staples.com achieved an operating profit for the first time.
Sales for Framingham, MA-based Staples were $2.7 billion–a 4% increase over the $2.6 billion reported for the same period last year. The quarter ended May 5.
Net income for the quarter was $40 million, which is the same as it was last year. The company pointed out that it did not close stores as its competitors did. It still plans to open 100 stores in the U.S.–10 fewer than originally planned.
Comparable sales for the quarter increased 1% overall and were down 2% for the retail business. Comparable sales includes the catalog and Internet businesses. The Web continues to exceed expectations, said the company, with revenues of $213 million in the quarter, up 182% versus last year’s first quarter.
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