Stables profit up

[kst$]

Staples profit is up but how. With consumers tighting there belt how did Staples manage to come out ahead.

While Staples' international and contract office supply businesses have remained relatively healthy, retail sales at the chain's more than 2,000 stores continue to be hurt by a U.S. economic slowdown. Sales at North American stores open at least a year decreased 6 percent in the latest quarter, reflecting declines in customer traffic and average order size.

Sales at Staples' North American office products delivery operations catering to corporate and business customers rose 8 percent. International sales rose 19 percent, but the gain was a more modest 8 percent excluding the effects of favorable currency exchange rates. Sales at Staples' overseas stores open at least a year rose 4 percent.

Staples profit edges up, reaffirms outlook

By MARK JEWELL,
I guess more coorperate offices needing supplies have helped Staples pull through this hard time.