Article: Fourth-quarter earnings push Staples to top spot.(Business)

Article from:
The Boston Herald
Article date:
March 5, 2003
Author:
Copyright

Byline: Greg Gatlin

Staples Inc. today is expected to report record fourth-quarter earnings and its best yearly performance ever, despite a retail environment that's left many other merchants struggling.

Staples, with about 1,500 stores, will surpass Office Depot Inc. as the largest U.S. office supply retailer by posting $11.6 billion in sales for the year ended Feb. 1. Staples says improved productivity and customer service drove last year's gains.

The Framingham office supply retailer earned $165 million, or 35 cents a share, for the quarter, a 21 percent increase over the $94 million, or 29 cents, in the year-ago period. Those earnings beat ...

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