Staples to Close 70 Stores in U.S. and Canada as it Focuses on ‘Business Services’
Fortune reports that office-supply store Staples said last week that it will close another 70 stores in North America “amid sharp sales declines in its top market and a continued pivot to business services and away from brick-and-mortar.” Staples closed 48 stores last year, and some 242 stores in the two years previous to that, according to Fortune.
Staples’s sales were down 7 percent in the fourth quarter in the United States and Canada.
According to Fortune, since U.S. regulators stopped the proposed Staples-Office Depot merger plan about a year ago, Staples “has been trying to win more business contracts and further beef up its e-commerce, already a leader in drive-by pick up and delivery, and rely less on traditional retail to everyday consumers, a long dwindling business.”
Staples has also been seeking to purchase business-to-business service providers beyond office supplies, and has sought to move away from Fortune 1000 companies to smaller companies as customers.
- March 2017: Staples Sells European Business to Cerberus Capital
- November 2016: Staples’ New Owner Hilco to Shutter Staples’ Stores in U.K.
- July 2016: Taylor Completes Acquisition of Staples Print Solutions; Staples to Shutter More Stores in North America
- July 2016: Staples Reportedly Considering Leaving U.K. after Failed Office Depot Merger
- June 2016: Staples Launches ‘Staples Rush’ Same-Day Delivery Service
- May 2016: Staples, Office Depot Call Off Merger in Wake of U.S. District Court Ruling
- December 2015: FTC Sues to Block Staples’ Acquisition of Office Depot
- December 2014: Staples Now Offering HP’s Instant Ink Ink-Cartridge Subscription Program
- March 2014: Staples to Shutter 255 Office-Supply Stores Across North America