America’s biggest office supplies retailer announced on Thursday it will close 225 stores.
Staples says its “customers are using less office supplies” forcing the retail giant to close 12% of its 1,846 North American stores by 2015. Competition from online office supplies sellers, like Walmart and Amazon, were also cited as factors contributing to the Staples slide.
“Maybe there are just less office workers,” suggested ZeroHedge’s Tyler Durden.
The impending jobs losses and store closings come as a new CNN poll finds that just 1% of Americans rate the nation’s economic conditions as “very good,” with a full 64% rating the U.S. economy as “poor.”