Staples’ Profit Rises 15% as Sales Increase 10%
From Bloomberg News
Staples Inc., the world’s largest office supplies retailer, said fourth-quarter profit rose 15% on healthy gains in sales at stores and in direct sales to business customers. The shares had the biggest gain in almost a year.
Net income rose to $290 million, or 39 cents a share, exceeding analysts’ estimates. A year earlier, earnings were $251.3 million, or 33 cents. Sales rose 10% to $4.46 billion, Framingham, Mass.-based Staples said.
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