This!
I work as a part time merchandiser for another company and am in Target stores every week.
As a consumer, I do my best to avoid the store. Their 'Team Members' that stock the shelves literally throw the stuff at the shelves. There is minimal product rotation for the majority of their grocery section.
From a vendor perspective, their ability to keep stock levels up is very poor. If you don't have it, you can't sell it. Their electronics section is poorly maintained and minimally staffed. i think if you were to look at the department overall, there is at least 20% of out of stock items. The amount of Apple SKU's is a very low percentage of their overall department. If I were to buy an

Watch, I sure wouldn't be buying it at Target.(yes, I own one) They are not a destination store for electronics, but mostly impulse when Mom or Dad need some pants or shoes and they just happen to walk by the electronic department and go, 'Oh, by the way...'
Although, us, on this forum, are painfully aware of the shortcomings of Apple updates, but for this CEO to blame Apple for their loss in sales, I believe, is unfounded.