Hundreds of Staples retail locations to close by 2015

National retailer with dozens of New York City stores to focus on e-commerce

New York /
Mar.March 06, 2014 03:25 PM

Prompted by 2013’s online sales boom, national office supply brand Staples has committed to closing 225 brick-and-mortar stores by 2015.

The company, which has 20 stores in New York City, generated about half its $23.1 billion in revenue from online sales in 2013, TechCrunch reported.

“A year ago, we announced a plan to fundamentally reinvent our company,” Ron Sargent, Staples’ chairman and chief executive officer, said in a statement cited by TechCrunch. “With nearly half of our sales generated online today, we’re meeting the changing needs of business customers and taking aggressive action to reduce costs and improve efficiency.”

Staples isn’t the only retailer closing physical locations in favor of virtual ones. Businesses belonging to a diverse range of sectors, from finance to food, are increasingly avoiding pricey New York City brick-and-mortar digs and instead opting to operate out of mobile or online marketplaces. The Staples announcement also comes just a day after electronics retailer Radio Shack’s decision to close more than 1,000 locations [TechCrunch]– Angela Hunt

 

Related Articles

arrow_forward_ios
Clockwise from top left: 312 West 34th Street, 61 North 9th Street, 639 Classon Avenue, and One Fulton Square (Credit: Google Maps)
These were the top 10 NYC retail leases in July
These were the top 10 NYC retail leases in July
From top, clockwise: Cushman & Wakefield's Joanne Podell, Showfields' Amir Zwickel, Appear Here's Josh Yentob, Brookfield Properties's Mark Kostic (Credit: Getty, LinkedIn)
When it comes to retail, “real estate in New York is fundamentally broken”
When it comes to retail, “real estate in New York is fundamentally broken”
(iStock)
As rents drop, Manhattan retail spaces are filling up
As rents drop, Manhattan retail spaces are filling up
Gucci's Soho store
Gucci to open store in Meatpacking District
Gucci to open store in Meatpacking District
Steve Roth: NYC retail might never fully recover
Steve Roth: NYC retail might never fully recover
Steve Roth: NYC retail might never fully recover
Empire Outlets at 55 Richmond Terrace on Staten Island (Empire Outlets, iStock)
BFC’s Empire Outlets on Staten Island enters foreclosure
BFC’s Empire Outlets on Staten Island enters foreclosure
Parking lot at the Wood Village Walmart in Oregon. (Google)
No Parking: Report says big box retail seeking less space for cars
No Parking: Report says big box retail seeking less space for cars
Clockwise: Shake Shack, Pret A Manger and Le Pain Quotidien (Getty) 
After disastrous 2020, retail chains stage modest NYC comeback
After disastrous 2020, retail chains stage modest NYC comeback
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...