In Closing Some Stores, Staples Bets on Multichannel Retail Strategy

Staples will use the savings to increase investment in its online and mobile channels, expanding its digital assortments beyond office supplies to better serve the needs of business customers with product categories such as facilities and break room supplies, copy and print and technology products.

"Our vision is to establish Staples as the single-source product authority for millions of businesses," said Staples CEO Ron Sargent. "We are building on the strengths that are the foundation of our success by focusing on five key priorities: accelerate growth in the online businesses; fully integrate retail and online; improve retail store productivity; restructure our international operations; and return cash to stakeholders."

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