Staples Experiences 32 Percent Rise in Profits

May 20, 2010 Updated: May 20, 2010

Staples, the largest office supplies chain in the U.S., said its quarterly earnings rose 32 percent on higher sales.

Deliveries in North America increased by 2 percent to $2.5 billion during the first quarter of 2010, the company said, while store sales increased 6 percent.

International sales also saw robust growth. "Our first-quarter performance was strong across the board," said CEO Ron Sargent in a statement.

"With sales and profit improvement in all three of our businesses, the year is off to a good start."

Staples’s positive results are due to a recovery in the economy, especially in the corporate sector, where Staples is a major supplier of office supplies.