A storming year for Staples

24 February 2005 – Framingham (MA): Staples has reported a record fiscal 2004, with sales increasing 11 per cent to $14.4 billion from $13 billion in 2003 and North American comp sales increasing 4 per cent.

The company reported a net income of $708.4 million, or EPS of $1.43, from $490.2 million, or EPS of $1.01, in 2003 – an increase of 41 per cent on a GAAP basis.

Sales for Q4 grew 13 per cent to $4.1 billion from $3.6 billion in the year-ago quarter, with comp sales rising 4 per cent. Net income for the quarter was $251.3 million, or EPS of $0.51, up 19 per cent from $211.9, or EPS of $0.43, last year.

Staples president CEO Ron Sargent said: "Our 65,000 associates had a great year in 2004, delivering strong results, differentiating Staples’ brand and advancing our market leadership around the world.

"We’re starting off 2005 on rock solid footing," he added. "Trends are strong, our team’s execution has never been better and we are driving improvements in all areas of our business."