Staples said Thursday it will close 225 stores in North America by the end of 2015 amid falling fourth-quarter revenue as sales increasingly shift online.Can you say more vacant square footage??
In morning trading, its stock fell nearly 16% to $11.27.
"With nearly half our sales generated online today, we're meeting the changing needs of business customers and taking aggressive action to reduce costs and improve efficiency," Staples CEO Ron Sargent said.
Thursday, March 06, 2014
USA Today reports:
Posted by Steve Bartin at 1:57 PM