Microsoft to shut down permanently all its physical stores worldwide
According to the official website of the US Giant, Microsoft has a total of 83 physical stores worldwide, which includes 72 physical stores in the US itself and rests others abroad. These physical outlets of the Microsoft showcase and sells its laptops and other hardware products.
Microsoft said Friday 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.
The company said it will also reimagine spaces that serve all customers, including operating Microsoft Experience Centers in London, NYC, Sydney, and Redmond campus locations. It said the closing of Microsoft Store physical locations will result in a pre-tax charge of approximately $450M, or $0.05 per share, to be recorded in the current quarter ending June 30, 2020. The charge includes primarily asset write-offs and impairments
Microsoft Corporate Vice President David Porter said: “Our sales have grown online as our product portfolio has evolved to largely digital offerings, and our talented team has proven success serving customers beyond any physical location.”
David Porter said, “We are grateful to our Microsoft Store customers and we look forward to continuing to serve them online and with our retail sales team at Microsoft corporate locations,”.
“It is a new day for how Microsoft Store team members will serve all customers,” said Porter. “We are energized about the opportunity to innovate in how we engage with all customers, maximize our talent for greatest impact, and most importantly help our valued customers achieve more.”
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Microsoft said that All its employees will have the opportunity to remain with the company,
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.
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