The Apple Retail Store turns seven-years-old today!
The first two Apple Stores opened in Tysons Corner, Virginia and Glendale, California on May 19, 2001. Last Thursday, May 15th, Apple opened their largest Apple Retail Store in the US: Apple Store, Boylston Street in Boston.
Currently, Apple has deployed 210 stores, including 182 in 37 US states, 15 in the UK, seven in Japan, and four in Canada with plans for 40 or so more stores by the end of 2008.
Reuters reports, “In its financial quarter to March 29, Apple’s store sales jumped 74 percent, to nearly $1.5 billion. Average revenue per store in the quarter reached $7.1 million, up 48 percent from a year earlier. Meanwhile, quarterly operating profit at the stores more than doubled, to $334 million.”
MacDailyNews Note: Apple’s retail stores generate sales at the U.S.-leading rate of $4,032 per square foot a year (for comparison, Saks generates sales of $362 per square foot per year; Neiman Marcus, $611; Best Buy, $930; Tiffany & Co, $2,666), according to a report last year by Sanford C. Bernstein analysts (based on an average of Apple’s then 174-store retail network). In 2004, Apple reached $1 billion in annual sales faster than any retailer in history; last year, sales reached $1 billion a quarter.
“Ron Johnson, Apple’s head of retailing, said Wednesday that an international retail presence would be an important driver of future sales,” Reuters reports. “‘Today, Apple is about 50 percent international revenue and about 50 percent in the U.S.,’ he said. ‘We increasingly want to get our retail presence out in the other countries.'”
Full article here.
More information about Apple’s rapidly-growing fleet of retail stores, including links to maps, calendars of events, and much more, here.
I give [Apple] two years before they’re turning out the lights on a very painful and expensive mistake. – David Goldstein, Channel Marketing Corp. President, May 21, 2001