Apple products will be removed from Myer stores due to poor sales and margins according to Australia’s largest department store.
Myer announced last week that it will remove Apple products from the 16 stores where the they were stocked and also from its online store.
The department store continues to undergo restructuring to ensure it is able to compete profitably with online retailers including the entrance of Amazon into the Australian market.
Myer indicated it had tried to negotiate more favourable terms with Apple but was unsuccessful.
Myer has made it clear that it will not chase unprofitable sales and has made this decision as we could not reach acceptable commercial terms that were in the best interests of the company and shareholders.
This decision is also about ensuring space in our stores is utilised in the most productive and effective way for the company. We thank Apple for the positive partnership we have had over many years.
Myer
Other stores are rumoured to be reconsidering the stocking of Apple products due to the low margins, high prices and competition from Apple itself.
