Staples Steps Up the Pace of its 2013 Store Closure Plan
Office supplier Staples Inc. is being more aggressive than its executives originally planned in its effort to trim the number of stores it has in North America this year.
The company reported it is on target for a net reduction of 40 stores in 2013, compared with the earlier projection of 30 stores that the retailer provided last fall.
The change doesn’t necessarily reflect a strategic shift for Staples, which started the year with 1,886 stores in North America. But it does show that the company is taking a closer look at all leases as they come up for renewal.