Staples Reports Profit $134.5 Million in 2014

Staples, Inc., with its worldwide headquarters in Framingham, announced a fiscal fourth-quarter loss of $260.4 million on Friday.

Total company sales for the fourth quarter of 2014 were $5.7 billion, a decrease of 4 percent compared to the fourth quarter of 2013.

“During the fourth quarter we achieved strong sales growth in our North American delivery businesses, further optimized our retail store network, and improved profitability in our International business,” said Ron Sargent, Staples’ chairman and chief executive officer, in a press release. “Our strategic reinvention is gaining momentum, and in 2015 we expect to benefit from the investments we’ve made to accelerate sales and earnings growth.”

The office supply chain posted revenue of $5.66 billion in the period, which fell short of Wall Street forecasts.

For the year, which ended on January 2015, the company reported a profit of $134.5 million, or 21 cents per share.

Revenue was reported as $22.49 billion.

Total company sales grew one percent during the fourth quarter, excluding the impact of store closures in North America, during the past year and changes in foreign exchange rates.

For the first quarter of 2015, the company expects sales to decrease versus the first quarter of 2014, according to a press release.

The company announced earlier this year it plans to acquire Office Depot.

For the full year 2015, the company expects to generate more than $600 million of free cash flow.