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Why Staples Will Continue Shrinking in America

There is likely to be one constant for Staples (SPLS) in coming years -- the continued shuttering of a ton of its hulking U.S.-based office supplies stores.

"We take a look at our stores and how they are performing in each market and what the network is, and make business decisions based on that and we will continue to do that going forward," Steven Matyas, president of North American Retail at Staples, told TheStreet in an interview when asked about the potential size of the company's store base five years from now. He added, "We will focus on making good business decisions and rationalizing where necessary."

Matyas confirmed Staples will close 46 to 50 stores in North America this year, as it attempts to slash costs and reinvest the savings in lower prices to better compete with the likes of Amazon (AMZN) in the wake of its failed bid for Office Depot (ODP) .

Staples has closed -- or...


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