Staples Announces 2015 First Quarter Performance Results
Staples, Framingham, Mass., announced the results for its first quarter ended May 2, 2015. Total company sales for the first quarter of 2015 were $5.3 billion, a decrease of 7 percent compared to the first quarter of 2014.
“Our first quarter results were in line with our expectations,” said Ron Sargent, chairman and CEO of Staples. “We grew sales in our North American delivery businesses and stabilized profitability across the company, which reflects continued progress on our strategic reinvention.”
North American stores and online sales for the first quarter of 2015 were $2.4 billion, a decrease of 10 percent compared to the first quarter of 2014. Sales growth was negatively impacted by approximately 4 percent due to store closures during the past year. Changes in foreign exchange rates also negatively impacted first quarter 2015 sales growth by approximately 2 percent.
North American commercial sales for the first quarter of 2015 were $2.1 billion, an increase of 3 percent compared to the first quarter of 2014.
For the second quarter of 2015, the company expects sales to decrease versus the second quarter of 2014. For the full year 2015, the company expects to generate more than $600 million of free cash flow.
For more information, visit www.staples.com.