Staples Inc. Income Drops 31%, Company Cuts Outlook
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Although sales for North American Delivery were down for the quarter, they remain up for the year. Six-month figures place sales at $4.96 billion for 2012, compared to $4.94 billion last year. North American Delivery reported a 2 percent increase in sales for the first quarter of the year.
North American Retail, the company's second largest division, showed a 3 percent decrease in sales at $2 billion for the quarter, while the International Operations unit took the strongest hit this period. Overseas sales decreased 18 percent to $1.1 billion, attributed to weak sales in Australia and continuing difficulties in several European economies. Analysts had anticipated sales in Europe to drop, a trend affecting nearly all industries globally.
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