(Undated)  --  Staples will close more than ten-percent of its North American stores in an effort to reduce costs.  

The company announced today that it will close 225 stores in an attempt to cut costs by $500 million.  The move comes after disappointing results last quarter and a forecast of continuing sales declines in 2014.  

Staples operates over 1,800 stores in the U.S. and Canada.