Staples Profit Jumps Nearly 30% on Better Margins, Cost Controls

Better margins helped Staples Inc.’s direct-to-business unit buck the pandemic’s impact and report higher profit for its fiscal third quarter, according to people familiar with the closely held company.

The office supply chain told investors on Monday it booked $197 million of earnings before interest, taxes, depreciation and amortization for the three months that ended Oct. 30. That’s up 29% from the same period a year earlier, said the people, who asked not to be identified because the results were disclosed privately.

Gross margin widened to 19.7% from 19.1% from a year earlier due to an improved sales mix, ...