Staples Closing Stores, Investing Online

Framingham, Mass.-based Staples Inc. will invest more in its online businesses and close or consolidate about 60 retail stores to cuts costs, the company announced. Staples said it is looking to shave $250 million a year in costs by the end of its 2015 fiscal year, while also aiming to reduce its retail square footage in its North American stores by about 15%. 

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Tags: online, retail
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