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Microsoft Announces Permanent Closure Of All Physical Store Locations As Sales Grow Online

By John F. Heerdink, Jr.

As per reports, Microsoft (MSFT) is set to permanently close all its physical store locations but will continue to invest and encourage investment in a digital storefront along with third-party retailers for sales of products such as the Xbox game player and Surface tablets.

“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,” stated Microsoft Corporate Vice President David Porter.

In late March, Microsoft reportedly closed its 83 stores with the majority of them being in the U.S due already shutdown to the Covid-19 pandemic. During the lockdown, Microsoft claimed that its retail team has virtually trained hundreds of thousands of education and enterprise customers on remote work and learning and has assisted customers with support calls. It has supported communities by hosting more than 14,000 online workshops and summer camps and more than 3,000 virtual graduations to encourage a transition to the digital roles.

Microsoft began opening stores in 2009 ahead of the release of Windows 7. The company hired Porter, a Walmart Inc. (WMT) veteran, to manage its retail effort. As the company moved into hardware with the release of the Surface device in 2012, it increased the pace of store openings, ending up with more than 100 stores. The company now plans to continue to invest in digital innovation with new services including 1:1 video chat support, online tutorial videos, and virtual works.

Redmond, Washington-based American multinational technology company Microsoft (MSFT) develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and related services. To learn more about Microsoft (MSFT) and to track their progress please visit the Vista Partners Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website:www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: Microsoft to Close Retail Stores Permanently in Digital Bet in Bloomberg)


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