Staples to slash $1.4B in 2016-17 as Staples closes stores in Asia

A Staples spokesperson confirmed that the company will cut $1 billion in annual sales in 2016.

The company also expects its full-year sales to be $7 billion.

The Staples store closings come just weeks after the company announced it was going to sell Staples Home and Personal Care, a move that came after several of the stores closed.

Staples had reported a $2.5 billion loss in 2016, with $2 billion of that coming from the Staples business.

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