Staples Q3 profit rises on cost controls
Framingham, Mass. –– Staples reported Thursday that profit for the third quarter rose 7% as the office supply retailer clamped down on expenses. Net income increased to $288.7 million, from $269.4 million.
Revenue edged up to $6.54 billion from $6.52 billion. Analysts expected $6.53 billion.
"We are seeing a steady improvement all areas of the business," CEO Ron Sargent said. "I don’t think we’re expecting a robust recovery next year, but I think we are expecting continuing progress with the national economy."
North American retail revenue rose 1% to $2.6 billion. However, same-store sales dipped 1%.
Staples, which bought Dutch office supply company Corporate Express NV, said international revenue fell 4% to $1.4 billion, mainly because of a 2% decrease in same-store sales.
Dollar Tree reports 37% rise in Q3 net income
Chesapeake, Va. — Dollar Tree said Thursday that net income for the quarter ended Oct. 30 rose 37% to $93.2 million, from $68.2 million in the year-ago period.
Consolidated net sales for the third quarter were $1.43 billion, a 14.2% increase from $1.25 billion a year earlier. Same-store sales increased 8.7%.
During the third quarter, Dollar Tree opened 86 stores, expanded or relocated 27 stores, and closed two stores. The company currently operates 4,009 stores in 48 states.
Report: Retailers continue to invest in green
Miami — Retailers are continuing to invest in sustainability initiatives, even during tough economic times, according to a new report by RSR Research entitled "Lean and Green: Sustainable Practices Are Changing Retail, Benchmark 2010.”
"We saw in last year’s report an increased interest in store-based green initiatives, and that continued very strongly this year," said Steve Rowen, managing partner at RSR Research and co-author of the report. "While our survey shows that many retailers have made inroads in this area, they also report that they have a lot more work to do in stores to both increase efficiency and reduce waste in stores."
The research also revealed a certain amount of impatience by retailers with regards to consumers lack of spending on green products. When it comes to consumer demand, we definitely saw a certain amount of impatience.
“But we saw a real opportunity for retailers to do more to educate consumers about the things they’re doing in other areas of the business – things that ultimately benefit consumers in their own neighborhoods,” said Nikki Baird, also a managing partner at RSR Research and co-author of the report.
The report, which contains recommendations for creating successful green strategies, can be downloaded here.