updated 10:35 am EST, Wed March 7, 2007
Apple retail to expand
Apple is aiming to expand its retail presence in the U.S. as well as abroad, with plans to open 35-40 stores in 2007 with more than 10 of those planned overseas. Apple chief financial officer Peter Oppenheimer yesterday spoke at the Morgan Stanley Technology Conference in San Francisco expressed his happiness with the financial performance of the company's retail stores. "We're going to continue to open stores at a measured and controlled pace," Oppenheimer said. "We expect to open 35 to 40 this year, with a little over 10 coming outside the United States." The executive said Apple invested in its retail stores last year and that he wants to continue that trend to make them a great place for customers. Oppenheimer pointed to roughly 20 Apple stores outside the U.S. as he highlighted the company's international efforts. "About 10 of those [international Apple stores] we've opened in the last year. So we're beginning to increase our international stores openings," Oppenheimer said.
"Today we're in Canada, Japan and the UK. You'll see us open in some additional countries in the note too distant future."
Apple's financial chief also outlined several challenges involved with opening international stores, citing fewer malls and more individual landlords as typical stumbling blocks.
"We continue to be very careful about real estate. We're very selective and won't take a bad site. And I see us opening 35 to 40 stores this year and I think over 10 would be international."