Sunday, March 12, 2017
Staples Closing 70 Stores As Sales Tank.
The leading office supply retail chain behind Office Depot OfficeMax is cutting its footprint by closing 70 stores this year. According to Fortune, this is a result of sales decline, and a declining stock price after closing 42 stores last year and still opening a few new locations. 242 stores have been shuttered in the last several years and this announcement only increases that number.
This does not mean Staples is in trouble in any way, its just business as usual to adjust to a changing market, and adjusting there market for the future. A change in the size of a stores square footage and well as the number of stores in each market.
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Posted by john bozic