Microsoft to permanently close all physical stores
Redmond-based Microsoft announced on Friday that it is permanently closing nearly all of its physical stores around the world.
Like other retailers, the software and computing giant had to temporarily close all of its stores in late March due to the Covid-19 pandemic. According to its website, Microsoft has 83 stores worldwide, including 72 stores in the US, and several others abroad where they showcase and sell laptops and other hardware. Friday's announcement reflects what the company calls a "strategic change" for its retail business as sales increasingly shift online.
Microsoft said it would "reimagine" the physical spaces at its four high-profile Microsoft Experience Centers in New York, London, Sydney, Australia and at the company's headquarters in Redmond, Washington.
All employees will have the opportunity to remain with the company, Microsoft said.
Microsoft Corp. said the closures would result in a pretax charge of about $450 million, or 5 cents per share, taken in the current quarter ending June 30.