updated 06:35 pm EDT, Wed April 25, 2007
Apple retail earns $855m
Apple today announced record March profits, reporting a whopping $855 million in sales from its retail stores for 34 percent growth year-over-year. The company's stores generated 32 million in segment margins in addition to 174 million of associated manufacturing profits, according to Apple CFO Peter Oppenheimer. "We opened seven new stores during the quarter, ending with 177 stores," said Apple's financial chief. "With an average of 172 stores open during the quarter, average revenue per store was $5 million." Apple currently has 21 stores operating outside the U.S., including its new store in Rome that opened just last month. As previously announced, Apple also plans to open high profile stores in Sydney, Australia as well as Glasgow, Scotland later in 2007.
The Cupertino-based company also announced plans for a third store in New York, according to Oppenheimer.
"We are also pleased to announce plans for our third store in Manhattan at 14th street and 9th avenue in the 'Meat-Packing' district."
The company's retail stores sold 275,000 Macs during the quarter, representing 79 percent growth year-over-year. Apple's CFO also reiterated the fact that more than half of customers purchasing Macs in the company's retail stores are new to the Mac.
"Over 21.5 million people visited our stores during the quarter, representing almost 10,000 customers per store, per week," Oppenheimer said. "We have continued to invest in our stores to enhance the customer experience. They are a great place to view the Apple TV experience today, and they are preparing for their biggest launch of all time, the iPhone, in late June."