Staples profit rises 1.5 percent, reaffirms outlook

Staples Inc.of Framingham posted a slim 1.5 percent increase in its first-quarter profit, after posting small declines the previous two quarters amid slow retail sales of office products.

The world's largest office products supplier said today that its profit rose to $212.3 million, or 30 cents per share, in the three months ended May 3. That compares with a profit of $209.1 million, or 29 cents per share, a year earlier.

The latest profit matches analysts expectations.

Staples says sales rose 6 percent to $4.9 billion from $4.59 billion a year ago, slightly beating analysts' forecast of $4.83 billion.

Staples reaffirms its profit and sales forecast for the full year. It expects a weak economic climate throughout 2008. (AP)