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Staples Q2 profit, sales decline
Framingham, Mass. -- Staples Inc. reported Wednesday that its net income in the second quarter declined 20% to $81.88 million, from $102.53 million in the prior year.
Its results included $101 million of pre-tax restructuring and other related charges primarily associated with its closure of 80 stores, along with its plan to close approximately 40 stores in North America during the second half. (Staples had previously announced the planned closings.)
Sales were down 2% to $5.22 billion, which topped analysts' estimates.
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Overstock.com to allow foreign customers to pay in Bitcoin
New York -- Overstock.com will allow international customers to pay in Bitcoin, beginning on Sept. 1. The move makes the online retailer, which started accepting Bitcoin for domestic orders in January, the largest American retailer to extend the payment option to foreign customers.
Overstock plans to introduce a new payments system on its international website, O.co, that will allow customers to make purchases using the virtual currency, the New York Times reported.