International sales boosts Staples
Office retailer sees strong customer demand
Staples has reported strong sales growth across the third quarter of the year, benefiting from a positive customer response to store improvements in the US, as well as expanded international operations.
The office retailer reported total sales for the quarter of $3.8bn, up 12 per. In North America, where Staples operates almost 1,400 stores in the US and Canada, comparable sales increased four per cent, driven by increased customer traffic, strong sales of furniture, office supplies, and a ‘solid’ back to school season.
Staples has begun to roll out redesigned stores, and has also has launched a marketing push behind in store copying services and own-brand products, which are on track to account for 15 per cent of total sales by the end of the year.
European sales rose 24 per cent at constant exchange rates, and 15 per cent in local currencies. Sales were boosted by the 59 Office World stores acquired earlier this year, taking Staples UK total to almost 100, as well as the recently acquired European delivery businesses, Pressel and Malling Beck.
Ron Sargent, Staples’ president and chief executive officer, said: “Staples’ customers are responding positively to our strong execution and easy shopping experience, resulting in rapid market share gains. Our team remains focused on improving customer service, differentiating our brand and investing in profitable growth to expand our market leadership.”
For the quarter to the end of January, the company expects low double-digit sales growth for the total company, with low single-digit North American retail sales growth and European business, sales growth in the high teens.
