H&R Block is everywhere -- and that's a problem.
The company said it plans to close 400 smaller offices after it lowered its sales and profit margin outlook for the rest of the year. H&R Block's stock plunged nearly 20% Wednesday.
During a conference call with analysts after the closing bell Tuesday, H&R Block CEO Jeff Jones said the decision to shutter the offices was part of its annual review and that the stores were mostly smaller ones.
The company does not plan to cut any jobs as...