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Microsoft is closing all its retail stores permanently

OPPO
In a surprise move, Microsoft revealed its plans to permanently close all its stores globally to concentrate on digital retail moving forward.
Microsoft is closing all its retail stores permanently
A Microsoft store: NICOLAS ECONOMOU/NURPHOTO VIA GETTY IMAGES

To concentrate on digital retail

Four of those stores will be "reimagined" into experience centers that will no longer sell products. This suggests that Microsoft is basically giving up on retail.

The locations that will be converted to experience centers are New York City (Fifth Ave), London (Oxford Circus), Sydney (Westfield Sydney), and the Redmond campus.

Microsoft said that the Microsoft.com and Xbox and Windows storefronts reached up to 1.2 billion customers in 190 markets.

The company told The Verge that there will be no layoffs because of today's decision. The company also plans to grow and develop careers from its diverse talent pool stronger than ever.

A The Verge source said that the plan was originally in place next year. But, it was accelerated because of the COVID-19 pandemic.

This decision is probably the reason why Microsoft has yet to reopen a single store after they were all closed due to the pandemic.

Forbes reported that the move will result in a pretax charge of approximately USD 450 million

To read the full story, check our source below.

Source: The Verge
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