Staples To Close 70 Stores As Sales Fall

FRAMINGHAM (CBS) – Staples said Thursday that it plans to close 70 stores in North America by the end of 2017.

The announcement came in an earnings report that showed falling sales for the Framingham-based office supplies company.

Total sales in 2016 were $18.2 billion, down three percent from 2015.

"Our fourth quarter results were right in-line with our expectations, and I'm increasingly confident that we have the right plan and the right team to transform Staples and get back to sustainable sales and earnings growth," said Staples CEO Shira Goodman in a statement.

Staples closed 48 stores last year in North America, ending the year with a total of 1,255 stores in the United States.

The company has not released a list of which stores it plans to close.