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Staples full-year 2011 sales increased 2% year-over-year to $25 billion, while net income grew approximately 12% to $985 million, the company said Feb. 29. Updates to the Staples.com website and the development of new mobile apps drove this growth, said Ronald Sargent, Staples's chairman and CEO in an investor's call.
Staples reported $5.8 billion in total sales in the second quarter, a 5.2% increase compared with the same period of 2010. Second-quarter net income for the Framingham, Mass.-based office-supply retailer increased 36% year-over-year to $176 million. Operating expenses grew 8.3% to $1.3 billion compared with last year.
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