Microsoft will permanently close nearly all of its physical stores worldwide in a “strategic change” for its retail business as sales increasingly shift online.
To implement the strategy, the company would “reimagine” the physical spaces at its four Microsoft Experience Centers in New York City, Sydney, London, and its Redmond headquarters.
Microsoft sells laptops and other hardware in 72 stores in the US and several others abroad.
The closures would result in a 5 cents pretax charge per share totaling $450 million taken in the current quarter.
The software and computing giant didn’t mention anything about layoffs.
Like other retailers, Microsoft found itself temporarily closing all of its stores in late March due to the pandemic.
