A STORMING YEAR FOR STAPLES

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A STORMING YEAR FOR STAPLES

 user 2005-03-02 at 9:30:00 am Views: 81
  • #10622
     A storming year for Staples

    24 February 2005 – Framingham (MA):
    Staples has reported a record fiscal 2004, with sales increasing 11 per cent to
    $14.4 billion from $13 billion in 2003 and North American comp sales increasing
    4 per cent.

    The company reported a net income of $708.4 million, or EPS
    of $1.43, from $490.2 million, or EPS of $1.01, in 2003 – an increase of 41 per
    cent on a GAAP basis.

    Sales for Q4 grew 13 per cent to $4.1 billion from
    $3.6 billion in the year-ago quarter, with comp sales rising 4 per cent. Net
    income for the quarter was $251.3 million, or EPS of $0.51, up 19 per cent from
    $211.9, or EPS of $0.43, last year.

    Staples president CEO Ron Sargent
    said: “Our 65,000 associates had a great year in 2004, delivering strong
    results, differentiating Staples’ brand and advancing our market leadership
    around the world.

    “We’re starting off 2005 on rock solid footing,” he
    added. “Trends are strong, our team’s execution has never been better and we are
    driving improvements in all areas of our business.”