Staples Chain to Close 30 Stores to Cut Costs

Staples Inc., the second-largest U.S. office-supply chain, plans to close as many as 30 stores in the next three months to cut costs. All but two of the stores are in the U.S., with the rest in Europe, spokesman Tom Nutile said.

Shares of Framingham, Mass.-based Staples rose 22 cents to close at $18.22 on Nasdaq.