Stunning Q1 at Staples

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Staples has posted a stunning Q1 profit rise of 24 per cent to $159 million, or EPS of $0.21, from $126 million, or EPS of $0.17, last year.

Sales came in at $3.9 billion, up 13 per cent from $3.45 billion last year. North American comp sales increased 4 per cent.

Chairman and CEO Ron Sargent said: "The continued strength of our North American businesses provides us with the flexibility to invest in the many ideas that will sustain our growth in the years to come."