Yesterday it was announced (http://macte.ch/xdw59) that Ron Johnson, Apple’s retail guru, was departing to become CEO of J. C. Penney. However, JP Morgan analyst thinks that Apple should have plenty of managers that can continue to carry out the vision that Johnson and others started.
Apple’s stores have become “a way of life,” the analyst said in a note to clients, as reported by “International Business Times” (http://macte.ch/kibat). “In our view, his consistent execution, messaging, and Apple’s retail revenue growth in the oft-challenging retail segment are without rival,” he said. “The silver lining in the departure is that we believe Mr. Johnson’s retail team has plenty of managers that can carry the torch.”
While Johnson’s departure is “a meaningful loss — especially considering his impressive execution to date,” Ben Reitzes of Barclays Capital told “International Business Times,” there’s still plenty of work in the pipeline. He noted that Apple’s plans are still in play, and the company is expecting to open 40 new stores this year.