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Staples to close 225 stores as sales move online

By The Associated Press

This article was published March 6, 2014 at 1:42 p.m.

Staples will shut down more than 10 percent of its stores in North American by the end of next year, the second major chain to announce the mass closing of stores this week and the latest evidence of a retail landscape that is being altered drastically by the way Americans shop.

The nation's largest office-supply company said Thursday that nearly half of its sales are now generated online and it is working aggressively to cut costs and become more efficient. It aims to close up to 225 North American stores as part of a plan to save about $500 million by the end of 2015.

It had already closed dozens of stores in the past year.

Staples would not elaborate on the number of jobs that are being cut, nor the locations of stores that will close.

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