- The Washington Times - Thursday, March 6, 2014

Staples is closing down 225 of its stores in North America — about 12 percent of its stock — in an effort to cut costs and shore up weak revenue numbers.

The 225 is in addition to the 40 that Staples already closed in 2013, CNN reported. Executives hope to save $500 million each year from the closures, which will wrap by the middle of 2015.

This is the second retail market shock to rock this week.

Radio Shack announced just a couple days ago it would closed down a possible 1,100 stores — about 20 percent of its facilities.