Staples to close 225 stores amid online sales shift

USA Today reports:

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.

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.

Can you say more vacant square footage??