FRAMINGHAM, Mass. — 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.
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.
Staples Inc. said Tuesday that these moves and other actions are part of a strategic plan to better serve customers' needs and accelerate growth.
Staples is trying to adapt to the evolving needs of its customers. Last month the company reported that its second-quarter net income fell as sales of computers, software, and basic office supplies softened. 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 and Europe continues to be a weak spot.
The chain expects the U.S. store closings will result in a charge of about $35 million in the fourth quarter. For fiscal 2012, it anticipates about 30 U.S. store closings. Staples also expects 30 stores will be scaled down and stores being relocated.
In Europe, the store closures are expected to occur before the end of fiscal 2012. The company has also tapped John Wilson to serve as president of Staples Europe. Wilson succeeds Rob Vale, who is retiring.
The retailer says its U.S. retail and online businesses will now be run by Demos Parneros. Joe Doody will continue to lead the North American contract and Quill.com businesses, and will assume leadership of supply chain and customer service operations in North America.
Staples expects its actions to result in charges of $145 million to $195 million by the end of fiscal 2012. It also foresees a third-quarter goodwill impairment charge of $790 million to $850 million within its European retail and catalog businesses.
The company says it is still looking into additional operational and strategic opportunities for its European operations, which includes the potential sale of its European printing systems business. It anticipates taking a third-quarter charge of $15 million to $20 million as it classifies the European printing systems business as discontinued operations.
The chain will also take a charge of $20 million by fiscal 2012's end as it rebrands its Australian business.
The Framingham, Mass., company anticipates annual savings of about $250 million by the end of fiscal 2015.
Staples's stock fell 55 cents, or 4.5 percent, to close at $11.80 Tuesday. Its shares hit a 52-week low of $10.57 in late August and peaked for the year at $16.93 in March.
The company has stores in 26 countries in North and South America, Europe, Asia and Australia.
Dwayne "Lil Wayne" Carter
Lil Wayne had an IRS lien filed with Miami Dade County in late March 2011. The lien <a href="http://www.mtv.com/news/articles/1661259/lil-wayne-tax-lien-irs.jhtml" target="_hplink">noted</a> that Lil Wayne had unpaid income taxes amounting to $3,351,078 for 2008 and $2,258,956 for 2009.
Dent was hit with a $1,160,056 federal tax lien in March 2011. The former Chicago Bears player was elected into the Pro Football Hall of Fame one month prior.
In January 2012, Lindsay Lohan reportedly received notice from the IRS that she owed over $93,000 in unpaid taxes from 2009. According to TMZ, the actress was simply unaware of the issue.
David "Sinbad" Adkins
<a href="http://realestate.aol.com/blog/2010/02/14/feeling-heat-from-irs-sinbad-will-sell-la-home/" target="_hplink">According to AOL Real Estate</a>, Sinbad was said to owe $8.5 million to the IRS in 2010 and another $2.1 million to the state of California that year. Sinbad was named as <a href="http://www.huffingtonpost.com/2009/04/12/sinbad-taxes-embarrassmen_n_185976.html" target="_hplink">one of the state's biggest tax evaders</a> in 2009.
In 2008, former Met and Yankee Darryl Strawberry <a href="http://www.nj.com/news/index.ssf/2008/02/darryl_strawberry_agrees_to_pa.html" target="_hplink">agreed to pay</a> more than $430,000 in back taxes he owed, plus interest and penaltie, for money he neglected to pay in 1989 and 1990.
Ozzy and Sharon Osbourne
According to the IRS, Ozzy Osbourne and his wife Sharon owed $1.7 million in taxes from 2008 and 2009.
Actor Forest Whitaker <a href="http://www.bvonmoney.com/2011/03/23/forest-whitaker-having-significant-tax-problems/" target="_hplink">was hit</a> with a large tax bill last year, after failing to pay $185,000 he owed to the IRS. The tax collectors in the Los Angeles County Recorder of Deeds cited Whitaker and filed a lien for the balance.
Actor Chris Tucker had a <a href="http://newsone.com/1883935/wow-chris-tucker-now-owes-over-12-million-in-taxes/" target="_hplink">tax lien filed against him in the state of Georgia earlier this year</a> for $592,594.08, plus $11,571,909.26 from the federal government for taxed owed in 2001, 2002 and 2004 through 2006.
"Baywatch" actress Pamela Anderson owed nearly half a million dollars to the IRS in 2010.
In 1974, comedian Richard Pryor was sentenced to 10 days in jail, fined and put on probation after pleading guilty to a charge of willful failure to file an income tax return, according to <a href="http://www.nytimes.com/2005/12/11/arts/11pryor.html?pagewanted=3&_r=1&ei=5090&en=ea88c61b92de25e6&ex=1291957200" target="_hplink">the <em>New York Times</em></a>.
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Sammy Davis, Jr.
Davis <a href="http://www.esquire.com/the-side/feature/destroyed-by-the-irs#ixzz1rYjZPHxQ" target="_hplink">owed nearly $7.5 million in back taxes</a> at the time of his death.
"Pan Am" actress Christina Ricci was hit with a federal income tax lien of nearly $180,000 on her 2008 earnings.
In December 2010, actor Wesley Snipes <a href="http://www.cbsnews.com/8301-504083_162-20025363-504083.html" target="_hplink">began a three-year prison sentence</a> for failing to file income tax returns in the amount of $7 million.