business news in context, analysis with attitude

Staples said yesterday that it plans to close as many as 225 stores in North America, with a goal of cutting its annual costs by up to a half-billion dollars.

The announcement comes as the office suppliers retailer said that its Q4 sales were disappointing, its Q1 sales are projected to be lower than the same period a year earlier, and the company is focusing to a greater extent on online strategies that it hopes will allow it to compete more effectively with the likes of Amazon.
KC's View:
It is simple. Change or die.