Microsoft announced Friday that they’re closing all of their retail locations for good.
Digital retail >>. All except four retail locations will be permanently closing. The remaining four will no longer sell products and be used as “experience centers.”
- The closings were originally planned for next year, but COVID encouraged them to start early.
- The result of physical locations closing will be a $450 million pre-tax charge (or $0.05 per share).
Retail fail. This marks the end of an effort where Microsoft was attempting to mimic the same experience Apple retail stores give customers.
How does it affect my wallet?
Microsoft does it right. Although temporarily, this may sound like bad news, the software giant said there would be no layoffs from this.
Microsoft is also known for being one of the most financially safe companies out there, with over $130 billion of cash on hand.
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