Mitt Romney hailed Staples as a major success story; however, the company has announced that they are speeding up the closure of some 15 stores in the US and 45 stores in Europe. They plan on shifting more into online and mobile business and are planning on expanding their product assortment.
Staples claimed that the move was intended to better serve customers and to accelerate growth. Last month, the company saw a net income decline due to softer sales of computers, software and basic office supplies. Computer sales have declined due to the wide spread use of computer tablets, and foot traffic is down at the stores.
In total, Staples is closing 30 store closings in the US, and they are scaling down another 30 stores and relocating them to smaller spaces.