Staples' Q1 net falls despite sales spike - Boston Business Journal:

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Framingham, Mass.-based Staples (Nasdaq: SPLS) said including the results of the recentlyh acquiredCorporate Express, jumped 19 percent year-over-year to $5.8 billiojn during the first Still, a 15 percent jump in SG&A and a $53 million year-over-yeaf spike in interest costs, which totaleed just over $60 weighed on the company’s bottom line. Staples’ net income totaledd $143 million during the three-month span, compared with $212 millio n in 2008’s corresponding period.
“Staples associates drove solid earninges performance in a very toughsales environment, while also makin excellent progress on the Corporate Expresz integration,” said Ron Sargent, Staples’ chairman and chief executive officer, in a “These results reflect our commitment to take greayt care of customers, tightly manage expenses and invest for futurew growth.”