Staples to Close 70 Stores in 2017
FRAMINGHAM, Mass. — Staples becomes the latest company to announce it is closing stores amid an ongoing shakeup of the retail landscape.
In a review of their 2016 performance, the office supply retailer announced it would close 70 stores but did not specify and locations or offer a timetable. Staples also said in the report that its sales dropped 3 percent 2016 in the fourth quarter compared to the prior year.
“Our fourth quarter results were right in line with our expectations, and I’m increasingly confident that we have the right plan and the right team to transform Staples and get back to sustainable sales and earnings growth,” Shira Goodman, Staples’ Chief Executive Officer, said in a statement.
In 2016, Staples sold its United Kingdom operation and closed 48 stores in North America. The chain has 76 locations in New Jersey.
Radio Shack this week announced it has filed for Chapter 11 bankruptcy and would close 200 stores.
Sears, Macy's, JC Penney, HHGregg, American Apparel, BCBG Max Azria, The Children’s Place, The Limited and Men’s Wearhouse have all announced they will close locations in 2017.
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