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Staples will close 225 stores and focus efforts on online sales

Staples to shutter 225 of its stores, will refocus efforts to generate more online sales

By Charles Gantt on Mar 6, 2014 at 05:38 pm CST - 0 mins, 49 secs reading time

This morning office supply retail giant, Staples, announced that it plans to close 225 of its retail locations by the end of 2015. Staples says that amidst poor fourth quarter results deriving from what it calls "soft" consumer demand for electronics, the company has no choice but to close up many of its stores to starve off mounting losses. Staples operates 1500 stores in the US, which equates to it closing nearly 1/4 of its in-store retail business.

Staples will close 225 stores and focus efforts on online sales | TweakTown.com

"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. The closings are expected to save the company nearly $500 million by the end of 2015. Staples will focus more of its resources into generating online sales, but with the PC market dwindling and more consumers turning to Amazon, Newegg and Tigerdirect for their electronics these days, this could just be the beginning of more hard times for Staples.

Charles Gantt

ABOUT THE AUTHOR - Charles Gantt

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

NEWS SOURCE:usatoday.com

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