Staples Net Income Rises 47%Staples Inc., Framingham, MA, had a 47 percent increase in net income to $87.8 million for the second quarter, the company said yesterday.
Total company sales in the quarter grew to $2.87 billion, up 18 percent from $2.43 billion in the same quarter of the prior year.
The quarter's highlights include:
· North American Retail sales rose 11 percent.
· North American Delivery produced 14 percent sales growth as a result of acquiring more than 3,000 new contract accounts and strong customer retention in all three delivery businesses.
· The European Retail and Delivery businesses had strong sales and were profitable, with Retail posting a 4 percent increase in comparable sales.