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Staples closing up to 225 stores

Staples announces the closure of up to 225 stores and other cost-saving measures that could save the company $500 million annually.
By Danielle Haynes   |   March 6, 2014 at 8:03 AM   |   Comments

http://cdnph.upi.com/sv/em/i/UPI-8291394109787/2014/1/13941109362240/Staples-closing-up-to-225-stores.jpg
FRAMINGHAM, Mass., March 6 (UPI) -- Office supplies chain Staples announced it plans to start closing up to 225 stores across North America due to an expected first-quarter sales decline.

About 12 percent of the retailer's stores will close by the end of 2015, saving the company about $500 million annually.

Already some 40 stores closed in 2013.

Staples issued a statement Thursday saying the savings would come from the store closures and other measures, including "labor optimization, non-product related costs, IT hardware and services, marketing, sales force and customer service."


[Business Week]
[CNN]

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