A name was given to companies that have a physical point of sale similar to any traditional business. The term refers to permanent buildings.
It is equivalent to the expression stores with doors which also emphasizes the physical side of a point of sale.
This term is in opposition to companies that rely on sales methods based solely on the Internet (example: pure players like Amazon).
And you may come across the expressions brick and clicks or clicks and mortar, used in the case of a physical company that decides to invest in an online product market.