Gross profit rose to $1.6 billion, for the 13 weeks to 1 May, from $1.5 billion last year and operating income saw an increase to $362.3 million from $286.8 million.
For the second quarter, the company expects sales to increase in the low single-digits compared to the same period of 2009. The company expects to achieve diluted earnings per share, on a GAAP basis, in the range of $0.16 to $0.18.
For the full year, the company expects total company sales to also increase in the low single- digits compared to 2009. The company expects to achieve diluted earnings per share, on a GAAP basis, in the range of $1.20 to $1.28 for the full year 2010.
Staples’ Chairman and CEO Ron Sargent said: “Our first quarter performance was strong across the board. With sales and profit improvement in all three of our businesses, the year is off to a good start.”