Staples’ web sales grow 31% and account for 16% of all sales
Worldwide Internet sales at Staples Inc. reached $2.1 billion for the year just concluded, up 31% over 2002, Staples reported today. Companywide sales for the full year reached $13.2 billion, up 14% compared to 2002. The web now accounts for more than half of Staples` worldwide delivery sales and 15.9% of all sales. A year ago, the web accounted for 13.8% of all sales.
Staples also reported progress in developing a 14,600-square-foot store model with fewer SKU`s and lower labor costs. It is replacing the eliminated SKUs with web-based store kiosks. North American comparable store sales were up 4%.
Staples’ net income in 2003 increased 10% on a GAAP basis from 2002.
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