“Apple Inc’s (AAPL) Apple Retail division has seen better days. Apple Retail enjoyed explosive growth from 2000 to 2011 under Ron Johnson’s leadership,” Garden City Growth and Value writes for Seeking Alpha. “Regardless of whether investors attribute most of the credit in Apple Retail’s growth to former Apple CEO Steve Jobs, there is no denying that Apple Retail boss Ron Johnson played a vital role in helping the division grow.”
“Apple made a huge mistake in hiring John Browett of Dixons Retail to replace Johnson,” GCGV writes. “Independent research firm Saibus Research published two reports about Apple Retail’s operational missteps under Mr. Browett and that it was a good idea for Apple to cut him loose before he did any major damage to Apple’s brand.”
“The bad news for Apple Retail was that Apple went a year before hiring a new senior vice president of retail (and online stores) and this helped contribute to its revenue only growing by 8% year-over-year in the first nine months of FY 2013,” GCGV writes. “The good news was that Apple made a great hire when it announced that it hired Burberry’s former CEO Angela Ahrendts as its new senior vice president of retail and online stores… Tim Cook struck out by hiring John Browett to succeed Ron Johnson as head of Apple Retail. However, he rebounded and hit a grand slam by hiring Angela Ahrendts as Apple Retail’s next boss.”
Read more in the full article here.
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