Target Says Sales of Apple Products Are Down 20%

Target Says Sales of Apple Products Are Down 20%

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During its earnings called today, Target said that sales of Apple products were down 20% last quarter, reports Reuters. The company lowered its fiscal year profit guidance on Wednesday due to lower demand for electronics and a weak start to its revamped grocery business.

Chief Executive Brian Cornell said customer visits declined across product categories during the quarter but electronics sales fell by a double-digit percentage rate and accounted for about two-thirds of the overall decline in sales at stores open at least a year. About a third of the decrease in electronics sales stemmed from reduced demand for Apple products, which were down more than 20 percent.

Despite the drop in sales, the retailer says it's working with Apple to capitalize on new product launches during the second half of the year.

Newly appointed Chief Merchandising Officer Mark Tritton will spend time with Apple to make sure "we're putting the right plans together for the back half of the year, that we're ready to capitalize on their new innovation that they will be bringing to the market."

Target's shares closed down 6.4% at $70.63.

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Target Says Sales of Apple Products Are Down 20%

jbird72 - August 18, 2016 at 2:47pm
I stopped going to Target when they let anyone piss in whichever bathroom they want. What a bunch of Morons!! Alienate your large customer base for a handful of weirdos. Makes you wonder who's on their board. Good-bye Targeeey!!!!
Kevin Barth - August 18, 2016 at 3:37pm
I beg to differ. Target is way ahead of Walmart, where they let in any hobo. Most of the walmarts are surrounded by sketchy characters all the time.
Wayne Warde - August 18, 2016 at 4:17pm
Couldn't agree more Kevin. Despite the people that shop at Walmart, for the longest time, you couldn't use all the products they were displaying out until last year compared to target showing much more than just phones, tablets, etc., of course the snack area they have, all the furniture you can try out, and anything else you can think of.
whocares - August 18, 2016 at 5:20pm
Really? Are you afraid that someone will tear apart your bottom? No worries, nobody want your long haired bottom and short minded bigotry personality. Go under a rock and don't forget to vote for Trump.
Aayy - August 18, 2016 at 6:06pm
I've personally arrested peeping toms in retail restrooms. You people need to stop pushing ur freaking liberal mental diseased agenda. I've met children and teenage victims who have been victimized by peeping toms in restrooms at shopping malls and other retail locations . YOU HAVEN'T.... It sickens me people don't see the danger in having men going into women's restrooms. Target is extremely reckless in this decision. I'd rather piss a transgendered off then to have an 11 year old girl scarred for life.
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