Microsoft to close physical stores, take $450 million hit

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Microsoft said on Friday it would close its retail stores and take a related pretax asset impairment charge of $450 million in the current quarter. The Redmond, Washington-based software giant said it would continue to serve customers online, with team members working remotely from corporate facilities. A Microsoft spokeswoman told Reuters all current retail employees would be given an opportunity to remain with the company in different roles.

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