Microsoft to close retail stores, taking $450 million charge

Microsoft Corp said it will close its physical store locations permanently but will continue to invest in a digital storefront.

The move will result in a pretax charge of about $450 million, or 5 cents a share, in the current quarter, Microsoft said in a statement Friday.

“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,” said Microsoft Corporate Vice President David Porter.