STAPLES Q3 NET INCOME UP 29%

  • facebook-tonernews-12-08-2016
  • 536716a_green_sweep_web_banner_902x17712
  • big-banner-ad_2-sean
  • 2toner1-2
  • toner-news-big-banner-nov-8
  • cartridgewebsite-com-big-banner-02-09-07-2016
  • 05 02 2016 429716a-cig-clearchoice-banner-902x177
  • 4toner4
  • futor_902x177v7-tonernew
  • Print
  • mse-big-banner-new-03-17-2016-416716a-tonernews-web-banner-mse-212
  • 161213_banner_futorag_902x177px
Share

STAPLES Q3 NET INCOME UP 29%

 user 2006-11-20 at 10:45:00 am Views: 44
  • #17130

    Staples Q3 net income up 29 percent
    November 2006 — Framingham (MA): Staples has announced strong results for its Q3 period.
    The
    company drove strong performance in each of its three businesses and
    gained market share, as expected by analysts at Citigroup.Total company
    Q3 sales increased 12 percent to $4.8 billion compared to the $4.2
    billion reported during Q3 2005.Net income rose 29 percent
    year-over-year to $290 million, and EPS, on a diluted basis, increased
    30 percent to $0.39, from the $0.30 achieved during Q3 last
    year.According to the retailer: “Q3 2006 earnings results reflect a
    lower tax rate, due to the favourable resolution of certain tax
    matters, and a correction for prior years’ stock-based
    compensation.”Excluding these items, net income grew 18 percent to $265
    million and earnings per share, on a diluted basis, were $0.36, a 20
    percent increase versus Q3 2005.Q3 North American Retail same-store
    sales increased four percent versus 2005, attributed to a strong
    back-to-school season and higher average order sizes.Total North
    American Retail sales rose 9 percent and North American Delivery grew
    sales 16 percent versus last year.International sales rose 10 percent
    in local currency and 15 percent in US dollars, with five percent
    comparable store sales growth in European Retail.Chairman and CEO Ron
    Sargent said: “While we continue to improve margins, we’re focused on
    driving profitable growth, and we’re pleased to see top line momentum
    in every part of our business.”For the full year, the company expects
    to exceed its previously announced earnings guidance of 15 to 20
    percent growth, excluding the Q3 tax benefit and the correction for
    prior years’ stock-based compensation.The retailer expects low
    double-digit growth for the total company on the top line and a
    positive, low single-digit comparable sales increase in North American
    Retail.

    Staples Inc.’s Q3 Sees Sales Jump
    Staples
    Inc.’s third-quarter sales rose from $4.25 billion the Q3 05 to $4.76
    billion.Net income jumped from $224.5 million last year to $289.9
    million for the quarter ended Oct. 28, writes Direct Magazine.The North
    American Delivery operating group, which includes DM operations, jumped
    from $1.26 billion to $1.5 billion in sales, while income for that
    group rose from $133.8 million to $161.5 million. That increase was
    despite the costs associated with opening three new fulfillment
    centers.