WATCH LIVE: Ambassador Gordon Sondland testifies in public impeachment hearing

Staples to close 225 stores nationwide

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

File Getty Images

FRAMINGHAM, Mass. — Staples Inc., the nation’s largest office-supplies chain, announced plans to close up to 225 stores in North America by the end of 2015 in an effort to save $500 million annually.

The announcement comes two days after RadioShack says it will close 1,100 locations nationwide.

According to CNN Money, Staples is facing increased competition from Inc. and Office Depot, which purchased rival OfficeMax in 2013.

Staples is now refocusing its efforts to online sales, which it says now generates nearly half of its sales.

Online sales grew 10% in the fourth quarter compared to a year earlier, at the same time that sales in its brick-and-mortar stores open at least a year fell 7%.

No word yet on which locations will close.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.