Q1 Sales Rise 15% at Staples

Share this article:
Staples Inc. said yesterday that during its first quarter ended May 3 sales reached $3.1 billion, an increase of 15 percent from $2.7 billion in the year-ago quarter.


Staples , Framingham, MA, achieved pro forma net income of $86 million. However, due to a change in accounting rules for recording vendor consideration, it posted a one-time, non-cash adjustment that reduced first-quarter net income by $62 million after taxes.


Net income plummeted from $93.87 million during the 13 weeks ended May 4, 2002, to $24.76 million in the comparable period ended May 3.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

7 Ways to Take Your Marketing Strategy to the Big Leagues

7 Ways to Take Your Marketing Strategy to ...

A game-winning omnichannel strategy must be seamless, synchronous, and symbiotic.

Pet World's Multichannel Marketing Is a Whole Other Animal

Pet World's Multichannel Marketing Is a Whole Other ...

The family owned pet store redesigns its website to bring the in-store experience online.

Complexity's What Marketers Got, Simplicity's What They Want

Complexity's What Marketers Got, Simplicity's What They Want

Customer insights managers want campaign management tools to remain easy to use, even as they up their games with multi-layered campaigns.