“The now-old Apple Store on the Third Street Promenade in Santa Monica, Calif. (blocks from my humble abode) generated $352 million in sales in 2011. That’s old news by now and — cheesy reporter line alert — for those keeping score at home, that’s about $1 million in sales per day. We only know this because a local tax association posted some statistics,” Rocco Pendola writes for TheStreet.
“These numbers make that $1 million per day number in Santa Monica even more astounding. I can only assume other stores in bigger cities (think Fifth Avenue, Manhattan) produce more revenue, but maybe not,” Pendola writes. “Either way, the average obviously gets weighed down by some relative underperformers in smaller cities and still-developing international markets. That’s my guess at least. And, again, retail doesn’t necessarily dominate Apple’s sales statement. The figures the company reports in geographic segments such as the Americas ($57.5 billion) and Europe ($36.3 billion) do not include retail register rings.”
Pendola writes, “In retail there’s Apple, Amazon.com and everybody else… AAPL and AMZN are both down again Friday morning. Do I really need to say more? Stop the stock market insanity.”
Read more in the full article here.