The announcement of store closings comes at a time when estimates indicate that about 25,000 retailers in the United States will close their businesses in 2020 due to the financial crises caused by the emerging Corona virus.
According to Microsoft’s website, the company has 83 branches around the world, of which 72 are in the United States.
The move to close Microsoft’s stores reflects what the company calls a “strategic change” in retail as sales are increasingly shifting online.
Microsoft confirmed that its sales have grown and evolved into digital offerings, noting that employees have succeeded in serving customers outside physical locations, according to the New York Post.
The giant of American technology companies said that all employees will have the opportunity to continue working in the company, as they will work through their digital stores instead of working in stores.
The company also said it would reconsider its physical spaces in four centers in New York, London and Sydney, and at the company’s headquarters in Redmond, Washington.
She added that the closure of its actual locations will result in pre-tax fees amounting to about 450 million dollars, or 5 cents per share, according to the results that will be recorded in the current quarter that ends on June 30.
Microsoft shares fell 1.9 percent in early trading on Friday at $ 196.61.
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The decision is due after the company decided to temporarily close stores in March due to the outbreak of the Corona virus, which is emerging in the world.
The announcement of store closings comes at a time when estimates indicate that about 25,000 retailers in the United States will close their businesses in 2020 due to the financial crises caused by the emerging Corona virus.
According to Microsoft’s website, the company has 83 branches around the world, of which 72 are in the United States.
The move to close Microsoft’s stores reflects what the company calls a “strategic change” in retail as sales are increasingly shifting online.
Microsoft confirmed that its sales have grown and evolved into digital offerings, noting that employees have succeeded in serving customers outside physical locations, according to the New York Post.
The giant of American technology companies said that all employees will have the opportunity to continue working in the company, as they will work through their digital stores instead of working in stores.
The company also said it would reconsider its physical spaces in four centers in New York, London and Sydney, and at the company’s headquarters in Redmond, Washington.
She added that the closure of its actual locations will result in pre-tax fees amounting to about 450 million dollars, or 5 cents per share, according to the results that will be recorded in the current quarter that ends on June 30.
Microsoft shares fell 1.9 percent in early trading on Friday at $ 196.61.
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