Historical Stock Chart
5 Years : From Jan 2013 to Jan 2018
Target Corp. (TGT) is planning to stop selling Amazon.com Inc.'s (AMZN) Kindle e-book reader as it runs out of stock.
Target "is phasing out Amazon- and Kindle-branded products in the spring of 2012," Target spokeswoman Molly Snyder said.
The company has sold the Kindle at its stores for the past two years, having been the first brick-and-mortar retailer to do so. Target will continue to offer "a full assortment of e-readers and supporting accessories," Snyder said. She did not give a reason for Target stopping sales of Kindles.
The devices have already been removed from Target's website and staff at New York-area stores said they were not getting fresh stock.
The decision is a bit curious given the Kindle has been a big seller for Target. The move does come as Target plans to expand its offerings from Apple Inc. (AAPL).
Representatives for Apple and Amazon declined to comment.
-By Karen Talley, Dow Jones Newswires; 212-416-2196; email@example.com