Last week, Staples reported a $548 million loss and a 3% drop in sales in the fiscal fourth quarter that ended in January.
After looking at those results, Staples announced it would close 70 more stores. Right now Staples has 1,600 remaining locations across the nation. Staples closed 48 stores last year, bringing to total number of closed stores in five years to 350.
About year ago Staples did try to merge with Office Depot; however, that deal was blocked by the Federal Trade Commission.
