Microsoft to shut down all Retail stores
The Tech Giant Microsoft Corporation had announced that it will close all Retail stores permanently across the globe and move its retail operations online.
Microsoft had earlier closed down more than 80 Microsoft stores due to the outbreak of COVID-19 pandemic. Most of these stores were located in the United States. It has decided to keep only four locations open that will be transformed as “Experience Centers” from now on.
The four locations that will become Microsoft Experience Centers will be in London, New York, Sydney and at the company’s Redmond, Washington headquarters.
As per Microsoft’s statement, the Company will continue its investment in its digital storefronts on Microsoft.com, and stores in Xbox and Windows. It is also expected that the move will result in a pretax charge of about $450 million, or 5 cents a share, in the current quarter ending June 30, 2020.
During the lockdown, Microsoft has said that it’s retail team had helped businesses and education customers digitally transform. They had also trained thousands of enterprise and education customers on remote work and learning software and helped customers with support calls.
The team had also supported communities by hosting more than 14,000 online workshops and summer camps and more than 3,000 virtual graduations.
Microsoft Corporate Vice President David Porter has said that their sales have grown online as their product portfolio has evolved to largely digital offerings, and their talented team has proven success serving customers beyond any physical location.
The Company’s retail team members will continue to serve consumers, small businesses, education and enterprise customers from Microsoft corporate facilities and will remotely provide sales, training and support.
Microsoft Corporation will also continue to invest in digital innovation with new services including online tutorial videos, 1:1 video chat support, and virtual works.
The impact of the COVID-19 pandemic has not yet been reflected in Microsoft’s financial results. It had posted a net profit of $10.8 billion from January to March, which is up by 22 per cent year-on-year, on a turnover of $35 billion.
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