Microsoft to close all its physical stores
The coronavirus pandemic has changed some principles of the retail sales sector. These changes hit not only food and industrial products, but also the technology sector. Thus, Microsoft Corporation, the world’s largest technology company, announced its intention to switch to a new approach to retail.
According to the announcement, the tech giant is planning to close Microsoft Store physical locations. All operations will be performed online. In March, the company closed its stores because of the coronavirus pandemic. The Microsoft representatives said that the company’s retail team members continue to serve customers from Microsoft corporate facilities and remotely.
The closing of physical locations is expected to result in a pre-tax charge of approximately $450 million or $0.05 per share. The recent estimates showed that the company’s online sales may soar as its products meet the market demand. "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," said Microsoft Corporate Vice President David Porter.