The company earned $120.4 million for the quarter this year, compared with $176.4 million for the same period in 2011. Last year's income numbers were bolstered by a $21 million tax refund. Total company sales dropped six percent, to $5.5 billion.
Staples North American Delivery division, which includes Staples Advantage and Staples Promotional Products, reported a 1 percent decrease in sales for the period, $2.41 billion compared to $2.43 billion. The company attributed this to the loss of two large contract customers, but said this was offset by "growth in facilities and breakroom supplies and promotional products," implying that distributor Staples Promotional Products business remained healthy. The company does not report figures for Staples Advantage or Staples Promotional Products separate from North American Delivery.
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