“Which is more valuable: The White House or one single Apple store?” David Goldman asks for CNNMoney.
“It’s almost a tie. Apple sells an annual average of $4,709 worth of merchandise per square foot in its hundreds of stores across the world,” Goldman reports. “Meanwhile, the presidential mansion in Washington is valued at $4,752 per square foot, according to real estate website Zillow.”
“The tech giant’s sales-per-square-foot numbers put it in uncharted retail territory… It is by far the most valuable chain in the U.S. The runner-up, Tiffany’s, lags way behind. Tiffany’s averages $2,974 per square foot, according to industry publication RetailSails. That’s almost 40% less than Apple hauls in.”
Read more in the full article here.
MacDailyNews Take: From the Never-Live-It-Down file:
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, commenting on Apple’s opening of retail stores, May 21, 2001
[Thanks to MacDailyNews Reader “Lynn Weiler” for the heads up.]
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