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Staples 3Q Sales Down 3.8%
Nov 20, 2013
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Staples, Inc. reported third quarter sales of $6.112 billion, down 3.8% from $6.353 billion in the third quarter of 2012.

Sales growth in the quarter was hurt by 1% by the closing of 107 store in North America and Europe in the 12 months preceding the 3Q 2013. Foreign exchange impact also hurt sales by 1%.

"It's been a year since we announced our strategic reinvention, and we're evolving our business to meet the changing needs of customers," said Ron Sargent, Staples' chairman and chief executive officer. "We continue to face weak demand for core office supplies, but we're driving growth online and in new categories, while aggressively managing expenses."

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