updated 02:45 pm EDT, Thu June 4, 2009
Apple Store posts $440M
Apple's flagship store in New York City has proven extremely profitable, reporting sales of approximately $440 million a year, according to the New York Post. Part of this may be attributable to people shopping less in the SoHo area, instead purchasing more goods at Fifth Avenue stores. Such behavior would be odd however, considering that Fifth Avenue stores typically have shorter hours than their SoHo counterparts. The Fifth Avenue Apple Store pulls in at least some extra revenue as a result of being open 24 hours a day.
By comparison, the slightly larger store at Prince and Green Street generates $100 million. Other shops on Fifth Avenue are generating still lower profits, such as Zara Clothing, which brings in about $25 million a year.
Retail outlets are continuing to play a large role in Apple's overall sales. Information on two new locations has recently surfaced, including a fourth New York City store at the corner of 67th and Broadway.