Staples' fourth-quarter profit drops

Staples Inc. of Framingham said its fourth-quarter profit fell 1 percent amid a tough retail environment.

The world's largest office products supplier reported today that it earned $331 million in the three months ended Feb. 2. That compares with a profit of nearly $337 million in the fourth quarter a year earlier.

The latest quarter's profit matched the consensus forecast of analysts surveyed by Thomson Financial.

Sales rose 1 percent to $5.32 billion, from $5.29 billion in the previous year's fourth quarter, falling short of analysts' expectations for sales of $5.37 billion in the latest period.

Staples said sales at North American retail stores decreased 4 percent, while North American delivery sales rose 4 percent. International sales rose 13 percent. (AP)