The Framingham, Mass.-based retailer earned $150.2 million, or 21 cents per share, for the quarter ending Aug. 2. That's down from a year-ago profit of $178.8 million, or 25 cents per share.
Analysts surveyed by Thomson Reuters expected the company to earn 21 cents per share on revenue of $4.69 billion. The performance was largely in line with the company's pre-announced results.
Staples (SPLS, Fortune 500) said sales jumped 18% to $5.07 billion from $4.29 billion during the same period last year.
Still, same-store sales -- an important retail industry metric -- fell 7% as fewer customers come through the doors. Staples said sales of furniture, desktop computers, printers and digital cameras were also weak.
"We're working hard to improve store productivity in North American retail," Staples' chairman and chief executive Ron Sargent said in a prepared statement.
Meanwhile, Staples said it expects low single-digit earnings per share growth for the full year.
Staples acquired Dutch supply chain Corporate Express NV for $2.7 billion in July as part of a move to expand delivery business in North America, as well as enter new international markets.
Staples shares rose 48 cents, or 2%, to $25.25 in morning trading Wednesday.
