by Angela Nazworth | May 2, 2012 2:03 pm
After two years, the honeymoon between Target (NYSE:TGT) and Amazon.com (NASDAQ:AMZN) has ended.
The big-box retail chain will rid its physical and virtual shelves of Amazon’s Kindle-branded tablets and e-readers, The Verge has reported. It will, however, continue to sell Kindle competitors like Barnes & Noble‘s (NYSE:BKS) Nook and Apple‘s (NASDAQ:AAPL) iPad.
In a statement released to The Verge, a Target spokesperson confirmed the news.
“Target continually evaluates its product assortment to deliver the best quality and prices for our guests,” the spokesperson wrote. “Target is phasing out Kindles and Amazon- and Kindle-branded products in the spring of 2012.”
While little explanation was offered, it’s no secret that the relationship between the brick-and-mortar retailer and the ubiquitous e-tailer had grown tenuous as Amazon’s sales success cut into the pockets of Target, Best Buy (NYSE:BBY) and others.
Source URL: http://investorplace.com/2012/05/target-closes-chapter-on-amazons-kindle/
Short URL: http://investorplace.com/?p=163201
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.