Staples Closing 225 Stores in North America

Staples plans to shut down 225 stores in North America.

The office supply retailer is trying to trim costs due to weak sales and earnings. The closings represent 12 percent of its stores in North America.

Staples hopes to save $500 million a year through the closings and other cost cutting measures. The stores will be closed by the middle of next year.

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