OU's One University Store announced it will close at the end of the semester due to a decline in sales.
The store, located in the Oklahoma Memorial Union, was launched in September 2013 as part of OU's digital initiative. The retail space also offers educational programming, hands-on learning in technology and a service center for technical issues.
The operation will shut down effective Dec. 14, according One University's Facebook post.
"The store has provided an opportunity to showcase technology and encourage innovation, but the growth in online shopping has led to declining sales, compressed margins and an unsustainable business model," the post said.
Students, faculty, staff and campus departments will still be able to access technology at discounted prices either through companies directly or through competitive contracts negotiated by the university, according to the store's post.
"We look forward to sharing sales and promotions with you over the next few months," the post reads.
The announcement of this closure comes after OU President James Gallogly announced the termination of roughly 50 staff positions in an effort to save money.
It is unclear if the closure of this store is related to these layoffs. The Daily has reached out to OU Public Affairs and is waiting for a response.