Staples to Close 225 North American Stores – Radio Shack to Close 1100 Stores

It’s an Obama world…
Staples, the largest US office supplies retailer, announced it would close 225 stores this year.
FOX Business reported:

Staples Inc , the largest U.S. office supplies retailer, forecast a fall in current-quarter sales as it loses customers to mass market chains and e-retailers, and the company said it would close up to 225 stores in North America by 2015.

Staples’ shares fell 9 percent before the bell, after the company also posted lower-than-expected fourth-quarter results and forecast current-quarter profit below analysts’ estimates.

The company operates 1,515 stores in the United States and 331 stores in Canada.

Meanwhile… RadioShack said Tuesday that it would close about 1,100 poorly performing stores, roughly 20% of the electronic retailer’s locations.

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