Staples Profit Falls 33 Percent In 1st Quarter

ASHLEY M. HEHER

CHICAGO (AP) — Recession-weary customers are still putting off big-ticket purchases from office-supply chain Staples Inc., but the retailer said it's beginning to see smaller declines in foot traffic and sales to small businesses.

The chain's tepid first-quarter results, released Wednesday, show the limping U.S. economy may finally be digging itself out of its slump by the end of the year, executives said Wednesday.

"I think the economy still looks pretty choppy out there," Chairman and Chief Executive Ron Sargent told investors during a conference call. "But I do believe that we're kind of slowly heading toward recovery mode." ...