FRAMINGHAM — Staples Inc. says it will close more stores this year than previously announced as it tries to reposition itself to remain competitive. The office supply retailer also delivered a solid third-quarter performance and fourth-quarter forecast on Wednesday, which sent its shares sharply higher.
The Framingham-based company has been struggling for some time with a shift in consumer habits toward online shopping, along with intense competition that has hurt its sales. In response, Staples has closed stores and cut costs to improve profitability, while increasing its online offerings and other features to draw shoppers.
Staples said Wednesday that these moves have paid off to some degree.
It earned $216.8 million for the quarter that ended Nov.1, or 34 cents per share. That’s up from $135.2 million, or 21 cents per share, in the same quarter last year.
The results met Wall Street expectations.
Staples also said that it has closed 127 stores in North America so far this year and now expects to close about 170 stores during 2014. This is an increase from its previous guidance of 140 store closures in 2014.
The company’s total revenue fell 2.5 percent to $5.96 billion, as it had fewer stores open. This topped Wall Street forecasts.