iPad Blamed For Myer Electronics Slump
A lack of new tablet launches, specifically, the lack of a new iPad model and other new devices during the last 12 months was blamed for Myer’s dwindling tablet sales.
iPad is one of the retailer’s biggest selling tablets.
The department store is rationalising its AV department, it said in an investor presentation, but a spokesperson said “we have been expanding our premium range of some products to better suit customer needs.”
Price deflation is blamed for the ongoing shrinking of the tech department.
Myer has also been doing well on Appliances and cited the category as one of its best performers along with Beauty and Handbags.
Myer FY2014 sales were flat at $3,1 billion, blamed on subdued consumer sentiment following the federal budget and unseasonably warm weather.