MSFT Microsoft Corporation

By Allison Prang

Microsoft Corp. is closing bricks-and-mortar Microsoft Store locations, the company said Friday.

Microsoft said it will record a pretax charge of about $450 million for this quarter from the closures, primarily for asset write-offs and impairments.

"Our sales have grown online as our product portfolio has evolved to largely digital offerings," David Porter, corporate vice president, said in prepared remarks.

The company said its retail staff will serve customers from Microsoft corporate facilities and remotely, providing sales, training and support.

Toward the end of March, the company's stores closed as a result of the coronavirus pandemic and stay-in-place orders aimed at cutting the spread of Covid-19.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

June 26, 2020 09:37 ET (13:37 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.