SAN FRANCISCO: First Apple took away the headphone jack on its iPhones. Then it took away the home button.
And now, it has taken away a closely watched performance metric that it has disclosed to investors for 20 years.
The Cupertino, California-based company on Thursday said that it will stop reporting unit sales data for its iPhone, iPad and Mac computer products, the latter of which it has given out since 1998. Analysts and investors use the figures to calculate the average selling price of Apple’s devices and gauge the health of the company.
Apple warned that sales for the crucial holiday quarter would likely miss Wall Street expectations, which Chief Executive Tim Cook blamed on weakness in emerging markets and foreign exchange costs.
The disappointing forecast by the world’s most valuable technology company helped send shares down as much as 7 percent, taking roughly $70 billion off Apple’s market value and forcing that value below $1 trillion. The forecast could also deepen concerns for technology companies that saw a sell-off after misses by Amazon.com Inc. and Google parent Alphabet Inc.
Apple said it expects between $89 billion and $93 billion in revenue for its fiscal first quarter ending in December, with a midpoint of $91 billion coming in below Wall Street expectations of $93 billion, according to IBES data from Refinitiv.
Cook in an interview with Reuters said that Apple is “seeing some macroeconomic weakness in some of the emerging markets.” He later told investors on a conference call that weak markets included Brazil, India, Russia and Turkey. Sales were flat in the fourth quarter in India, Cook said.
“Obviously, we would like to see that be a huge growth,” Cook said on the call.
Apple said the data is less relevant to the strength of its business as customers bundle products, such as an iPhone paired with its wireless AirPods headphones, along with paid subscription services like Apple Music to listen to songs and iCloud storage for photos. Analysts were skeptical.
“Companies typically stop reporting metrics when the metrics are about to turn. This is not a good look for Apple,” said analyst Walter Piecyk from BTIG Research.
The move cost Apple dearly, helping to send shares down about 7 percent in after-hours trading. They later settled at $207.81, about 6.5 percent below their previous close.
“Apple is a complex company with lot of moving parts,” said analyst Ivan Fienseth from Tigress “I think they need to give more transparency to their shareholders and not less.”
But now, Apple will give cost-of-sales data for both its total product businesses and its total services business, which will let investors evaluate a gross margin for both. In the past, Apple gave only an overall gross margin figure for the company.
The new numbers are important for two reasons. First, they will show just how lucrative Apple’s hardware business really is. But more importantly, for the first time they give margin information on Apple’s services business, which reached $10 billion in its fiscal fourth quarter, up 17 percent.
Many of Apple’s fastest-growing businesses are subscription based, like its $9.99 a month Apple Music service. And investors tend to value subscription business through a combination of their revenue growth rate and margins — information that Apple investors will now have, said Tien Tzuo, chief executive of Zuora Inc, a company that helps subscription businesses track their finances.
But one problem Apple investors will face is not knowing what the margin mix is within the services business. Some parts of it, like iCloud storage, are likely lucrative, but others, like Apple Music, are probably less so because Apple has to pay music licenses costs and competes with rival Spotify Technology.
“You would value the music business with one (revenue) multiple closer to Spotify, and the cloud business with a (subscription software) multiple,” said Tzuo. “Having some sense of which business is growing faster would be nice.”
Apple decision to keep lid on iPhone sales data unnerves investors
Apple decision to keep lid on iPhone sales data unnerves investors
- Apple will stop reporting unit sales data for its iPhone, iPad and Mac computer products, the latter of which it has given out since 1998
- ‘Companies typically stop reporting metrics when the metrics are about to turn. This is not a good look for Apple’
Apparel Group expands Saudi presence with 25 new brands
RIYADH: Apparel Group is seeking to strengthen its presence in the Saudi market through digital commerce expansion, adding 25 new brands to its portfolio, and plans to grow its store network by 200 outlets this year to reach a total of 1,000, CEO Neeraj Teckchandani told Al-Eqtisadiah.
He noted that Saudi Arabia has been one of the group’s key markets since entering in 2007, currently operating more than 800 stores across the Kingdom. He added that the group’s current expansion plans include opening over 200 new stores this year, following 150 openings last year, with expectations that Saudi Arabia will become the group’s largest market in terms of footprint and revenue share in the coming period.
Teckchandani added that the group continues to invest in e-commerce through its digital platform, SixFeet, launched in 2016, which contributed 10 percent of total group sales, noting that plans are underway to gradually increase this share in 2026 through technology investments and enhanced digital shopping experiences.
The group is also preparing to launch a unified SuperApp this year, integrating its loyalty program, the SixFeet platform, and all digital assets into a single application to accelerate e-commerce growth, improve customer experience, and increase operational efficiency.
New fashion and restaurant brands
The CEO said the new brands added to the group’s portfolio cover fashion, footwear, restaurants, and entertainment, including Footasylum, FitFlop, and Clarins, as well as Bobbi Brown, Wagamama, Ivy Asia, and Punjab Grill.
He noted that some brands have already opened in Saudi Arabia, with further expansion planned this year and next.
85 brands under the group
Apparel Group manages 85 global brands and over 2,500 stores across Saudi Arabia, the UAE, Bahrain, Qatar, and Oman.
The company has also expanded strategically into India, South Africa, Singapore, and Indonesia, as well as Thailand, Malaysia, and Egypt.
Its portfolio includes internationally renowned fashion, footwear, and lifestyle brands such as Tommy Hilfiger, Charles & Keith, Skechers, Aldo, Crocs, Calvin Klein and Aéropostale. The group also operates food and lifestyle brands including Tim Hortons, Jamie’s Italian, and Cold Stone Creamery, alongside beauty labels such as Inglot and Rituals. R&B, its in-house label, is currently the fastest-growing brand in the region.
Securing locations in new centers
Teckchandani pointed out that the Saudi market is witnessing rapid expansion in the shopping mall sector, with 30 new centers expected to open by 2030, affirming that the group has secured strategic locations in several of these projects and aims to expand its store network in parallel with real estate growth in the retail sector.
He added that the group has also invested in operational infrastructure within Saudi Arabia, establishing a main distribution center in Riyadh to support supply chains, relocating to its new regional headquarters in Majdoul Tower, and expanding its logistics arm, “Connect Logistics,” as well as “Shopfit Interior,” a company specializing in store fit-outs.
He added that the parent company is prioritizing investment in advanced technology and AI, along with launching the unified SuperApp in the second quarter of 2026, and has appointed a group-level chief digital officer to support this phase, with results expected in the short to medium term.
Saudi expansion drives growth
Teckchandani emphasized that Saudi Arabia represents the group’s main growth engine in the coming years, supported by strong consumer demand, rapid development of shopping centers, and increasing contribution from digital commerce.
Apparel Group’s expansion comes amid a broader retail sector boom in Saudi Arabia, driven by rising consumer spending and accelerated development of malls under Vision 2030.
The retail sector is one of the largest non-oil contributors to GDP, with increasing growth in digital sales channels as companies integrate e-commerce with traditional stores to enhance operational efficiency and expand market share.
Major retailers are seeking to capitalize on population growth and rising purchasing power, alongside the expansion of hospitality and entertainment projects, boosting demand for global brands. Investments in logistics infrastructure and digital transformation have also become critical competitive factors, especially as e-commerce accounts for a growing share of total retail sales.
