STAPLES posts strong results
STAPLES posts strong results Staples has announced its results for the fourth quarter and fiscal year ended February 3, 2007. Total company sales for the fourth quarter grew 18% from last year to USD5.3 billion. Excluding an extra week in 2006 total company sales increased 10% compared to Q4 2005. North American Retail revenues increased by 14% and North American Delivery sales increased by 24%. International sales grew by 16% in local currency or by 27% in US dollars. Net income for the quarter increased by 22% to USD336 million, compared with a net profit of USD277 million in 2005. For the fiscal year 2006, sales reached USD18.2 billion, up from USD16.1 billion in 2005. Excluding the 53rd week in 2006, total company sales increased by 11% in comparison to 2005. The company said that North American Retail sales rose 10% and North American Delivery revenues increased 19%, whilst its e-commerce sales reached USD4.9 billion an increase of 28% from 2005. The company’s international sales rose by 10% in local currency or 13% in US dollars. The company reported net income of USD974 million for 2006, compared with a net income of USD784 million for FY2005. Looking ahead to 2007 the company is planning to open 100 stores in North America and around 10 in Europe. The company is also expecting significant growth in Asia and Latin America, whilst its business to business sector will become increasingly important.