Staples Inc., Framingham, MA, reported net income of $40.4 million for the quarter ended Aug. 4, down from $42.6 million for the same period last year.
And while its Staples.com online unit became profitable for the first time with net income of $5 million for the quarter, the office supply chain’s overall profit fell 5.2% in the quarter.
Staples delivery businesses, including Staples Direct, Staples Contract and the Quill catalog, combined with the firm’s online counterparts, posted 14% sales increases.
Revenue for the firm’s online businesses, including Staples.com, StaplesLink.com, BusinessDepot.com and Quill.com, was $234 million, up 144% over last year.
Overall sales of $2.3 billion for the quarter rose 5% over the $2.2 billion reported for the same period last year.
Last quarter, the retailer cut back U.S. expansion plans from 110 to 100 new stores. Staples operates 1,300 stores and has 50,000 employees.
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