Staples' Net Income Sinks 38%

  • August 25, 2009
Slower consumer demand continues to weigh on Staples Inc., and the retailer says its second-quarter net income sank 38%, to $92 million. And while total company sales registered a 9% gain to $5.5 billion, same-store sales in the U.S. fell 5%.

The company says the declines reflect shrinking average order size, as well as weakness in such categories as business machines and furniture. Computers, inks and papers performed better.--Sarah Mahoney

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