Staples Sets 225 Store Closings

Staples is the latest major retailer to announce major store closings. The chain will close 225 North American stores by the end of next year (out of about 1,500), in an effort at cost savings.

The chain, which has said that it plans to emphasize its online business, is battling recently merged rivals OfficeMax and Office Depot.

The company, which announced in earnings Thursday, as sales and revenue were down by profit was up.

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