March 6, 2014
Staples, the largest U.S. office supplies retailer, will close up to 225 stores in North America by the end of next year because of slumping sales caused by shoppers turning to mass-market stores or going online.
The company’s shares fell more than 14 percent on Thursday, after Staples posted weaker-than-expected fourth-quarter results and lowered its profit forecast for the current quarter.
It said it will shut 225 stores of its 1,846 stores in the United States and Canada — roughly 12 percent.
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