Staples’ Second-Quarter Profit Jumps 56%

Staples Inc. posted a 56% jump in quarterly profit, in line with estimates, and said it invested $9.5 million in two closely held companies in a move to offer intranet services to its small-business customers. The office supplies retailer had net income of $52.7 million, or 11 cents a share, in its fiscal second quarter, up from operating profit of $33.8 million, or a split-adjusted 8 cents, a year ago. Sales jumped 25% to $1.84 billion, with a boost from expanded services for small-business customers. Sales at stores open at least a year rose 9%. Staples said it invested $6 million in Boca Raton, Fla.-based HotOffice Technologies Inc. and $3.5 million in New Haven, Conn.-based DSL.net Inc. and will combine the companies’ technologies so it can offer high-speed intranet services. Staples also indicated an interest in purchasing as much as $5 million of DSL.net stock when it goes public. It also said it plans to open outlets in airports, with the first store scheduled to open in September in Philadelphia. Shares of the Westborough, Mass.-based firm closed up 69 cents at $25.81 on Nasdaq.