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News Summary: Staples to speed up store closings

The Associated Press

SHRINKING STORES: Staples is speeding up the closure of about 15 of its U.S. stores and plans to close 45 stores and some delivery businesses in Europe.

ONLINE SHIFT: The office products company also says it will invest more in its online and mobile efforts and will expand the product assortment that it offers to its business customers.

THE CAUSES: Staples is trying to adapt to the evolving needs of its customers. Computer sales have been pressured by the introduction to many offices of the computer tablet and other mobile devices. Traffic is also down at Staples' stores as shoppers buy more online, and Europe continues to be a weak spot.