Headlines

Staples Closing 70 Stores

Retailer closing 5% of its brick-and-mortar stores as it shifts away from traditional retail

Published

7 years ago

March 10, 2017

Staples (Framingham, Mass.) announced that it will be closing 70 stores throughout North America, which amounts to about 5 percent of its North American brick-and-mortar fleet. These closings are in addition to the 48 locations that were closed in 2016.

The news came as the retailer announced its fourth-quarter earnings results, which included a 7-percent decline in same-store sales.

These store closings are a part of the retailer’s efforts to shift its focus away from traditional brick-and-mortar retail and grow it online and through more business services, instead, reports Chicago Tribune.

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