Staples reported fourth quarter sales that were higher than expected following improvements in its North American business. Total company sales for the fourth quarter 2009 increased four percent to $6.4 billion compared to the fourth quarter of 2008.

Net income for the fourth quarter 2009 declined 18 percent year over year to $234 million, including a pre-tax charge of $42 million related to a settlement of several retail wage and hour class action lawsuits.

"With a strong finish in the fourth quarter, our team delivered a solid 2009," said Ron Sargent, Staples' chairman and chief executive officer. "We made great progress on the integration of Corporate Express, took big steps toward building a global Staples brand, laid a solid foundation for growth in our technology services and copy and print businesses, and strengthened our international leadership team."

For the full year 2009, total company sales increased five percent to $24.3 billion compared to the full year 2008. Net income decreased eight percent year over year to $739 million. Total company sales for the full year 2009 decreased eight percent after adjusting sales for 2008 to include Corporate Express' sales of $3.4 billion for February 2008 to June 2008, prior to the acquisition.

The company's outlook assumes a modest economic recovery in 2010. For the first quarter 2010, Staples expects sales to increase in the mid single-digits compared to the same period of 2009.