Sales up for Staples while profit tumbles

Released 03/03/2010

CEO looks to growth product areas for 2010

Staples has reported its fourth-quarter profit to have fallen, partly on one-off charges, while sales improved for the second quarter in a row.

"While we're not planning for a big economic recovery this year, we do plan on getting back to growing both the top and bottom lines," commented CEO Ron Sargent on what the company expects in 2010.

He sited the biggest drivers of growth to be categories like facilities and break-room supplies, business technology copy and print, alongside core office supplies.

"We'll continue to open a new store every week," he added, "and we'll dramatically improve the profitability of our international business."

Source: AP

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