Staples to Shut 140 Stores This Year as Sales Decline
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Staples Inc. will shut about 140 locations this year, part of a store-closing plan announced earlier, as the world’s largest office-supply chain responds to online competition.
Staples shut 80 outlets in North America in the fiscal second quarter. Net income in the three months ended Aug. 2 dropped 20 percent to $82 million, or 13 cents a share, as $101 million was spent on closing locations, the Framingham, Massachusetts-based company said in a statement today.