The Amazon Effect: Staples To Close 225 Stores, Says It’s Now Making Half Of All Sales Online

TechCrunch

The Amazon effect continues to be felt among the brick-and-mortar faithful. Today, office supply superstore Staples announced that it would close 225 stores by 2015, some 10% of its worldwide footprint, as it continues to move more of is business online — now half of its total sales. The news came out in the company’s Q4 and full-year earnings, which noted full years sales figures of $23.1 billion for 2013 — working out to $11.5 billion in online sales for the year.

A bullish push into online to compete better against Amazon is not the full story, however. Overall sales at Staples were down 13% for the quarter and 5.2% for the full year, partly impacted by 46 stores closing in 2013, the company said. It’s part of a bigger trend of stores selling electronics and other goods continue to feel the pinch. Just yesterday, Radio Shack announced 1,100 stores…

View original post 278 more words

Please Leave a Reply. Thank You.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s