QUICK LINKS:

Staples to close 225 stores as sales move online

Created: 03/06/2014 7:02 AM WHEC.com
By: Associated Press

Staples will close 225 stores by the end of next year and the office-supply retailer is initiating a plan to save about $500 million annually by 2015.
    
The Framingham, Mass., company says nearly half of its sales are now generated online, so it will aggressively cut costs to become more efficient. The closings, all in North America, will help the company meet its pre-tax savings goal.
    
The store closings amount to about 10 percent of Staples Inc.'s worldwide total of 2,200. It has 1,500 locations in the United States.
    
The company's fourth quarter earnings more than doubled compared with last year, when the company booked a restructuring charge of more than $176 million.



News10NBC/WHEC-TV welcomes your opinion and interaction on our website, but please remember to keep it clean. If you're advertising for another business, being profane, vulgar or slanderous your post will be deleted. By commenting on this website, you agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use. Comments are not pre-screened before they posted.



Rochester

Broken Clouds
57°
57° | 43°
  • Feels like: 57° F
  • Wind: NW 18mph
  • Humidity: 53%
  • Fri Sunny
    59° | 44°
  • Sat Times of sun and clouds
    62° | 45°
  • Sun Partly cloudy and windy
    54° | 41°
  • Mon Mainly sunny
    59° | 37°