Recently, the popular retail store Target revealed during the Q2 earnings call that sales of Apple products at the retailer fell by 20 percent.
Target CEO Brian Cornell said the decline is due to lack of innovation and newness by the company, and blamed poor Apple sales for Target’s disappointing Q2 earnings results.
Electronic Sales fell by double digits with Apple products accounting for a third of the overall drop.
“Our guests come to us looking for those products,” Cornell said on a conference call to discuss earnings. “They’re looking for the newness and the innovation. We’re putting together plans with Apple and our merchandising teams to make sure we’re ready to take advantage of that in the back half of the year.”
Earlier this year, Apple reported a drop in its earnings, as well as a drop in the sales of the iPhones. It’s quite possible as manufacturers are releasing new devices almost every quarter, and to keep up with it, Apple has to ensure its products are offering top-of-the-line experience.