News Brief
Staples: Flat Sales Now, Flat Sales Coming
Nov 15, 2011, 3:15 PM
Staples says its third-quarter sales came in at $6.6 billion, a 0.5% increase from the third quarter a year ago, and comparable-store sales declined 1%. Net income climbed 13% to $326 million. Citing the tough environment, the Framingham, Mass.-based retailer says it expects to achieve flat to low single-digit sales growth in the fourth quarter.
For the holiday, the chain is pushing tech products, using instore, online and social media strategies. One of the most heavily promoted deals is “Trade up and recycle” offer, which allows consumers to purchase a new laptop ($599 and up) and recycle the old one, which earns them $100 back in a Visa Prepaid Card.
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