Apple Inc. (AAPL) Really Wants You to Buy Its Watch, Doubles Down on Retail
Apple Inc. (AAPL) is trying to make its disappointing Watch more lucrative -- and it's pushing into retailers to do so.
While Macy's ( M) recently announced that it would feature the Watch at 180 locations in Apple boutiques, Fortune reports Kohl's Corp. (KSS) is now getting on in the action too. It will be selling the watch in 400 stores beginning Nov. 15, but in its activewear and wellness departments.
Apple's strategy for the Watch makes sense, considering the Watch hasn't lived up to its next-big product promise. The tech giant announced the Apple Watch Series 2 back in September in conjunction with its iPhone 7 launch. The iPhone remains Apple's most valuable product, as it made up 60 percent of Apple's revenue in its fiscal third quarter.
"Apple is forecasting stronger holiday sales than it saw a year ago, likely because of the iPhone 7," Jeremy Kaplan, editor-in-chief of Digital Trends, recently told U.S. News & World Report. "This is a very good phone, headphone jack or no. The company also anticipates strong sales from a revamped Macbook lineup, something fans have been clamoring for years for. Watch sales were very weak, but the new Nike Watch 2 has real promise. It may be the first smartwatch that offers consumers a real reason for its existence."
Apple stock is up just under 5.5 percent this year. Just after its latest earnings report last week, AAPL dipped 2 percent following a slight earnings beat and higher revenue guidance than anticipated for its fiscal first quarter.
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