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Staples Reports 9% Sales Growth In North America

8/22/2005 02:00:00 AM Eastern

Sales at Staples' North American retail stores jumped 9 percent in the company's fiscal second quarter, hitting $1.9 billion, up from a year-ago $1.7 billion. Comp-store sales rose 3 percent.

North American retail unit income increased to $133.6 million from a year-earlier $96.2 million.

The company's North American delivery business continued to play the major role in elevating consolidated sales and earnings. Delivery sales in North America grew 17 percent, hitting $1.1 billion, up from a year-ago $979.5 million. Delivery income for the period ended July 30 rose to $111.4 million, from $88.3 million in the second three months last year.

The delivery business attributes much of its growth to an additional seven stores opened in the Chicago market, where the total now is 15. Staples business delivery has nearly doubled sales in the market since the retail launch.

Consolidated Staples sales for the second quarter increased 12 percent to $3.5 billion from a year-ago $3.1 billion. Net income moved up 20 percent, reaching $147.2 million in the second quarter, compared with $122.5 million year-on-year.

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