Is This Apple’s New Head of Retail?
Has Apple (NASDAQ:AAPL) finally found a new head of retail? Apple has apparently hired Enrique Atienza, a former Levi Strauss executive with plenty of experience managing retail operations for several large companies reports Apple Insider.
According to Atienza’s LinkedIn (NYSE:LNKD) page, he has over three years of work experience in retail operations with Levi Strauss, as well as a stint as Vice President of Store Operations in North America for the Disney (NYSE:DIS) Store. Atienza also notes that he has been employed at Apple since July 2013.
Despite the fact that he does not describe his current role at Apple, Atienza’s previous experience seems to suggest that he will take charge of Apple’s retail operations. The Cupertino-based company has been without a head of retail operations for almost a year ever since it fired former Dixons Retail CEO John Browett in October 2012.
Browett’s short stint as Apple’s head of retail was controversial due to several cost-cutting measures he implemented for the Apple Stores, including eliminating staff and reducing working hours for employees. Since Browett’s firing, CEO Tim Cook has doubled as Apple’s interim head of retail operations.
CFO Peter Oppenheimer noted in the third quarter earnings call that Apple Stores’ revenues were “approximately equal” to the same quarter last year. However, despite the stagnant year-over-year revenue growth, Apple Stores remain the most successful retail stores in the U.S. based on sales per square foot according analyst Horace Dediu at Asymco. According to Apple, the average revenue per Apple Store in the June quarter was $10.1 million.
Here’s how Apple has traded so far this week.
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