Staples to Close Dozens of Stores

The company, which has a store at Patriot Place in Foxborough, said the move could boost revenue.

Staples, which has a store at Patriot Place in Foxborough, will close 30 of its North American stores to try and boost revenue.

The company, headquartered in Framingham, didn't say which stores would be shuttered. It employs 88,000 workers worldwide.

In a news release, Staples said it wants to concentrate on its online retail operation. Staples is the largest office supplier in the United States. It's also the second-largest online retailer; Amazon is No. 1.

“We are focusing on our biggest opportunities, aligning our organization to address the needs of our customers, and reducing exposure to our weakest businesses,” said Ron Sargent, Staples’ CEO, in a statement. “This puts us in a much stronger position to drive long-term sales and earnings growth.”

Staples said it will also reduce the size of some of its North American stores, close 45 stores and offices in Europe, and shake up its leadership team.

Staples experienced a 5.5 percent decrease in sales during its most recent quarter, according to the Los Angeles Times.

The Sept. 25 announcement led to a 4 percent drop in Staples' shares, according to NBCNews.com.

Dennis Naughton September 30, 2012 at 01:58 PM
Thanks a lot Mitt Romney and Bain Capital Ventures. Would not want you to let people's jobs and the interests of their families stand in the way of maximizing your profits.
Ken B. October 01, 2012 at 01:36 AM
Mitt's been gone from Bain how long ? Oh never mind, you're still blaming Bush 3.75 years into the term of "The Messiah Who Can't"


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