Daily Management Review

Microsoft to close all its retail stores


Microsoft announced plans to close all its physical stores as part of a new approach to retail.

Raysonho @ Open Grid Scheduler
Raysonho @ Open Grid Scheduler
The company is expected to reserve $ 450 million, or $ 0.05 per share, in the fourth fiscal quarter for write-offs and impairment of assets.

The company suspended its Microsoft Store in late March due to restrictions imposed due to the COVID-19 coronavirus pandemic.

Microsoft’s report said that all of its employees in the retail segment will continue to work in the company's offices and remotely.

"Our sales have grown online, as the product portfolio has been converted mainly to digital offers, and our talented team has shown successful results in servicing customers outside of physical locations," said Microsoft Corporate Vice President David Porter, whose words are quoted in the press company release.

source: bloomberg.com