Staples Closing 225 Stores After Making $11.5 Billion Online in 2013

StaplesThe Amazon effect continues to be felt among the brick-and-mortar faithful. On Thursday, 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 closing. Read the full story at TechCrunch.