Staples Income Falls 16%

Staples Inc. posted net income of $150.2 million for the second quarter, a 16% decline from $178.8 million in the prior year.

The direct marketer and retailer reported sales of 5.1 billion for the quarter ended Aug. 2, an 18% increase over $4.3 billion last year.

The Framingham, MA firm posted gross profit as a percentage of sales was 26.6% for the second quarter, compared to 28.2% for the prior year.

Management attributed this in part to a decrease in comparable store sales in its stores.

The company reported that selling, general and administrative were 21.5% of sales for the quarter, compared to 21.6% last year.

“I am proud of our team for continuing to manage our business carefully during challenging economic times,” said CEO Ron Sargent, in a statement. “We’re working hard to improve store productivity in North American retail, and we’re taking the right steps to build on our foundation for long term growth in International markets.”