Staples | featured news

Costs related to Staples turnaround plan helped drive down the office supplier's fourth-quarter net income by 72 percent. Its quarterly revenue and financial outlook for the year missed Wall Street's expectations.

Staples is speeding up the closure of about 15 of its U.S. stores and plans to close 45 stores and some delivery businesses in Europe. The office products company also says it will invest more in its online and mobile efforts and will expand the product assortment that it offers to its business customers.

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