The company says that it expects to close the stores by the end of 2015 and save approximately $500 million in the process. March 6, 2014 5:50 AM PST (Credit: Screenshot by Lance Whitney/CNET) Staples will start closing stores to improve its chances of competing with online retailers. The company on Thursday announced that it plans to close 225 stores between now and the end of 2015. The effort will help Staples save $500 million and will affect only North American retail locations. That move follows the 40 net store closures 40 downsizes Staples initiated last year. Related stories iPad Air, Mini land at Staples retail stores Staples now sells iPads and iPods online Staples and RadioShack pull Amazon lockers from stores Staples supplies bad news on PC sales Google's low-cost Chromebooks coming to 6,600 more stores Staples has been making a major push for the online space. The company reported that at the end of 2013, it had more than 500,000 products available on Staples.com. At the beginning of 2013, that figure stood at 100,000. Still, Staples is far from a top destination for consumers looking to buy products online. Brick-and-mortar store sales are down because of increased pressure from popular online sites, like Amazon.com, and Staples seemingly has no confidence in that trend turning around. Last year, Staples same-store sales fell 4 percent compared to the prior year. Staples has yet to announce which stores will close.
The company says that it expects to close the stores by the end of 2015 and save approximately $500 million in the process.
Staples will start closing stores to improve its chances of competing with online retailers.
The company on Thursday announced that it plans to close 225 stores between now and the end of 2015. The effort will help Staples save $500 million and will affect only North American retail locations. That move follows the 40 net store closures 40 downsizes Staples initiated last year.
Related stories
- iPad Air, Mini land at Staples retail stores
- Staples now sells iPads and iPods online
- Staples and RadioShack pull Amazon lockers from stores
- Staples supplies bad news on PC sales
- Google's low-cost Chromebooks coming to 6,600 more stores
Staples has been making a major push for the online space. The company reported that at the end of 2013, it had more than 500,000 products available on Staples.com. At the beginning of 2013, that figure stood at 100,000.
Still, Staples is far from a top destination for consumers looking to buy products online. Brick-and-mortar store sales are down because of increased pressure from popular online sites, like Amazon.com, and Staples seemingly has no confidence in that trend turning around. Last year, Staples same-store sales fell 4 percent compared to the prior year.
Staples has yet to announce which stores will close.
