Stunning Q1 profit rise at Staples

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17 May 2005 – Framingham (MA): 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 $3.90 billion, up 13 per cent from $3.45 billion. North American comp sales increased 4 per cent.

Chairman and CEO Ron Sargent said: "Our team continues to deliver industry-leading results and drive significant market share gains. We are reaping the awards of our balanced approach to growth and profitability.

"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," he added.