Staples profit increases 1.5%
From Times Wire Reports
Staples Inc. said fiscal first-quarter profit rose 1.5% and revenue exceeded some analysts’ estimates as sales to companies countered a decline at its stores.
Net income climbed to $212.3 million, or 30 cents a share, the first increase in three quarters. Revenue in the three months through May 3 increased 6.4% to $4.88 billion. Profit matched the average estimate of analysts, and Framingham, Mass.-based Staples reiterated its full-year earnings forecast.
Staples shares rose 4 cents to $23.61.
