Appeals Court Affirms Decision Against Internet Archive for Copyright Infringement

Microsoft said on Friday it will permanently close all of its 83 store locations and will instead focus on its e-commerce business, where customers can visit for support, sales, training and more. The decision comes after Microsoft temporarily closed stores in March due to the spread of the coronavirus. Microsoft said the thousands of workers from these stores have already transitioned to new roles where they're providing sales, training, and support to customers from Microsoft corporate facilities or remotely. Total Retail's Take: Microsoft opened its first brick-and-mortar store in 2009, where people could go to try the company's software and hardware. This decision was made after Apple, its main competitor, was enjoying great success and popularity with its modern, clean retail outlets. Over the past decade, Microsoft expanded its retail presence in an effort to create a shopping experience similar to Apple’s.

Total reported sales for the third quarter of 2017 were $2.6 billion compared to $2.8 billion in the third quarter of 2016, a decrease of 8%. Third quarter sales include the negative impact on both the Retail and Business Solutions Divisions from hurricanes Harvey, Irma and Maria, which disrupted operations in Puerto Rico and the southeastern United States where a heavy concentration of customers are located. In the third quarter of 2017, Office Depot reported operating income of $108 million, net income from continuing operations of $98 million, or $0.19 per diluted share and total company net income of $92 million, or $0.17 per diluted share. Both net income from continuing operations and total company net income include a net tax credit of approximately $37 million associated with the reduction of the U.S. tax valuation allowance. Click Read More below for additional information.

Adobe announced that its board of directors has approved a new stock repurchase authorization, granting the company authority to repurchase up to $25 billion in common stock through March 14, 2028. Under the program, which is designed to return value to Adobe’s stockholders, minimize dilution from stock issuances, and reduce share count over time, the company may repurchase shares in the open market and enter into structured repurchase agreements with third parties. “Our new $25 billion share repurchase authorization underscores what a special company Adobe is, with the profitability and cash flows to drive growth and invest in innovation while returning significant capital to our shareholders,” said Dan Durn, executive vice president and CFO, Adobe.