Staples Gets Record Income in 2002

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Staples Inc., Framingham, MA, achieved "record performance" for its fiscal year ended Feb. 1 with net income, excluding special items, of $417 million and sales of $11.6 billion, which was up 8 percent from 2001, the company said yesterday.

Company sales for the fourth quarter rose 14 percent from the prior-year quarter to $3.3 billion, with net income for the quarter totaling $165 million.

E-commerce sales exceeded $450 million in the quarter and were $1.6 billion for the year. The proportion of orders placed electronically reached 53 percent of volume for the quarter, up from 45 percent a year ago.

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