Staples to shut 225 stores as online competition hurts sales

STAPLES INC. said Thursday it will close as many as 225 stores throughout North America after online competition from rivals such as Amazon.com hurt the office-supplies retailer's sales. The company declined to comment on whether any of the stores slated for closure included those located in Rhode Island.
STAPLES INC. said Thursday it will close as many as 225 stores throughout North America after online competition from rivals such as Amazon.com hurt the office-supplies retailer's sales. The company declined to comment on whether any of the stores slated for closure included those located in Rhode Island.
WASHINGTON – Staples Inc., the largest U.S. office-supplies chain, will close as many as 12 percent of its North American stores and cut as much as $500 million in costs as online competition continues to hurt sales. The shares fell. The annual pretax savings, which the company expects to achieve by the end of 2015,…

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