Australia's largest department store operator Myer will stop selling 'unprofitable' Apple products as part of its drive to focus on higher-margin items.
will stop selling "unprofitable" Apple products as part of its drive to focus on higher-margin items, Myer said on Friday.
Myer, which was founded on the back of the country's gold rush more than a century ago, is cutting costs and boosting its online presence which allowed it to swing into a modest first half profit in January."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," a spokesman said.
Myer's net profit came in at $38.4 million for the six months to January 26, compared to a loss of $476.2 million for the same period a year earlier.
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