Was Apple’s Retail Chief Departure Tied To iPhone Sales Slide?
Apple announced this week that its retail chief, Angela Ahrendts, will resign in April to follow “personal and professional pursuits.” Ahrendts, who took the role in 2014 and became Apple’s highest-paid executive, revamped the tech giant’s retail stores, merged its brick-and-mortar and online shopping experiences, and made the buying process feel more like a luxury experience. During Ahrendts five years in charge, Apple increased its global store count from 437 to 506 locations while boosting its average sales per square foot by 21% to $5,627. However, Apple also struggled to sell its products in China over the past two years, and Ahrendts’ emphasis on luxury — which carried over from her time as Burberry’s CEO — arguably backfired as the company priced itself out of an extremely competitive consumer market. Read more at The Motley Fool.
