Web sales climb as comparable store sales shrink at Staples
Web sales are clearly outpacing comparable store sales at Staples Inc.
In the second quarter e-commerce sales for Staples, No. 2 in the Internet Retailer Top 500 Guide, grew by 18% while comparable sales at the company’s stores in North America declined by 2%.
In Q2 Staples posted worldwide e-commerce sales of $1.3 billion vs. $1.1 billion in Q2 2006. But reflecting the fact that more customers are placing their orders online, North American comparable store sales in the second quarter declined and remained flat for the first six months of the year. Comparable store sales for North America were also impacted by slower sales of furniture, supplies and business machines, the retailer says.
Overall for the second quarter, Staples posted net income of $178.8 million on sales of $4.3 billion, compared with net income of $161.1 million on sales of $3.9 billion in the prior year.
The web accounted for 30% of all revenue in the quarter.
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