Staples Inc. posted a slim 1.5 percent increase in its first-quarter profit, after posting small declines the previous two quarters amid slow U.S. retail sales of office products.

The world's largest office products supplier said Tuesday its net income rose to $212.3 million, or 30 cents per share, in the three months ended May 3. That compares with a profit of $209.1 million, or 29 cents per share, a year earlier.

The latest profit matched the consensus estimate of analysts surveyed by Thomson Financial.

Framingham, Mass.-based Staples said sales rose 6 percent to $4.88 billion from $4.59 billion a year ago, slightly beating analysts' forecast of $4.83 billion.

While Staples' international and contract office supply businesses have remained relatively healthy, retail sales at the chain's more than 2,000 stores continue to be hurt by a U.S. economic slowdown. Sales at North American stores open at least a year decreased 6 percent in the latest quarter, reflecting declines in customer traffic and average order size.

Sales at Staples' North American office products delivery operations catering to corporate and business customers rose 8 percent. International sales rose 19 percent, but the gain was a more modest 8 percent excluding the effects of favorable currency exchange rates. Sales at Staples' overseas stores open at least a year rose 4 percent.

The latest quarter's slight profit gain marked a small improvement from the previous two quarters. Staples' fourth-quarter profit dipped 1 percent, and its third-quarter profit declined 5 percent.

"We are pleased to deliver solid results in a challenging quarter," said Ron Sargent, Staples' chairman and chief executive.

The 76,000-employee company reaffirmed its profit and sales forecast for the full year, citing expectations for a weak economic climate throughout 2008. Staples forecasts per-share earnings to increase in the high single digits in percentage terms, with sales rising at a slightly slower rate in the mid-single digits.

The forecast is roughly in line with analysts' expectations for a full-year profit of $1.51 per share, up 6 percent from a year ago, on sales of $20.4 billion, up 5 percent.

For the second quarter, Staples said it expects "flat earnings per share growth." Analysts forecast a profit of 26 cents per share, up 5 percent from a year ago.