Microsoft to close retail stores permanently, take $450-million hit

Microsoft closed its 83 stores, most of which are in the US, in late March due to the Covid-19 pandemic

Microsoft Corp said it will close its physical store locations permanently but will continue to invest in a digital storefront that, along with third-party retailers, has driven sales of products such as the Xbox game player and Surface tablets.

The move will result in a pretax charge of about $450 million, or 5 cents a share, in the current quarter, Microsoft said Friday in a statement.

“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