Dive Brief:

• Staples announced Wednesday that it will close 140 locations in North America this year. 
• The world's largest office supply chain has already closed 80 stores in North America in the most recent quarter. The closings are part of Staples' overarching plan to close up to 225 stores by 2015. 
• Staples also reported its second quarter earnings Wednesday. Sales dropped 1.8% to $5.22 billion, with a 5% drop in same-store sales. 

Dive Insight:

With roughly half of its sales already online, Staples has been aggressively proactive in building its e-commerce and m-commerce platforms, expanding its online inventory and placing an emphasis on mobile. But with increased competition from online retailers and big-box chains, the retailer seems to be facing a race to the lowest price, announcing several promotions for the back-to-school season. 

Focusing on its extended inventory and online efforts seems to be a smart decision for the retailer. But, as CEO Ronald Sargent acknowledged in an earning call Wednesday, the Staples still has "a lot more work to do to" to get the business back on track.