Microsoft indefinitely closing its retail stores worldwide

 Microsoft (MSFT) reversed its plan to expand its retail presence in other to compete with Apple, the move to close all retail shops will allow them to cut some cost and focus back on software and digital business. 

Microsoft said the closing of its physical locations will “result in a pre-tax charge of approximately $450 million, or $0.05 per share,” which it will record in the current quarter that ends June 30. However, Investingport thinks that this may also have to do with the coronavirus pandemic effect on businesses.  

The $1.5 trillion company will now focus on its online store via Microsoft.com for all support issues, sales, and training. According to the statement issued by Microsoft’s spokesperson, all its retail team members will be trained to help on the website instead of in the store. 

“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,” Microsoft Corporate Vice President David Porter said in a blog post. “We are grateful to our Microsoft Store customers and we look forward to continuing to serve them online and with our retail sales team at Microsoft corporate locations.” He added.

Microsoft's share price is down about 1.5% mid-morning on Friday.