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Staples to close 225 stores by end of 2015
Framingham, Mass. -- Staples on Thursday said it will close 225 stores by the end of 2015 amid falling fourth-quarter revenue, increased competition, and a shift to online sales. The big-box office-supply category, which was battered by the recession, has come under increased competition from Walmart and other discounters and online retailers such as Amazon. Most recently, Staples’ rivals Office Depot and OfficeMax completed a $1.2 billion merger.
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Walmart extends lead over Target in Kantar Retail’s price survey
Boston -- Walmart continues to extend its lead and again achieves its price leadership position over Target, in Kantar Retail’s semi-annual pricing study. Target’s overall grocery and consumables basket has been more expensive than Walmart’s since the study was performed in January 2011.
With an overall branded basket 3.8% less expensive than Target’s, Walmart extended its lead over its rival from June 2013 when Walmart’s overall basket was only 2% cheaper than Target’s.