Staples Inc. posted net income of $150.2 million for the second quarter, a 16% decline from $178.8 million in the prior year.
The direct marketer and retailer reported sales of 5.1 billion for the quarter ended Aug. 2, an 18% increase over $4.3 billion last year.
The Framingham, MA firm posted gross profit as a percentage of sales was 26.6% for the second quarter, compared to 28.2% for the prior year.
Management attributed this in part to a decrease in comparable store sales in its stores.
The company reported that selling, general and administrative were 21.5% of sales for the quarter, compared to 21.6% last year.
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