Staples Net Income Rises 47%

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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.


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