London Apple Store leads UK retail, triples Harrods' profits
updated 01:30 am EST, Mon November 23, 2009
Company's presence attracting other retailers
Apple's Regent Street store in London reportedly generates sales of approximately £2,000 (~$3,300 USD) per square foot, according to an Evening Standard report. The store's sales numbers make it the most profitable retail outlet in London, beating the high-end retailer Harrods by a factor of three. Apple's presence on Regent street has also been credited with helping to vitalize the area and attract other retailers.
“To be blunt it was rubbish. If you think back five years there was not much more than those old cashmere shops," said Retail Week editor Tim Danaher. "But it's been completely transformed into a world class shopping street. When US retailers are looking at locations in Europe, Regent Street is the first port of call now.”
The Regent Street store, opened in 2004, represented Apple's first brick-and-mortar establishment built outside of the US. The company has since opened another 23 stores in the UK, with more expected to be added in the near future. [via T3]
Where's all this revenue that Apple
11/23, 08:17am reply
is getting disappearing to? Cash reserve only? It's not moving the share price very much, lately. Maybe only two retail stores out of five generate large profits. Is there any information how long it takes to pay back the construction costs of a newly opened store? They say that Apple uses some of the finest materials for construction and that must drive the cost up.
iphonerulez
Fresh-Faced Recruit
Joined: Nov 2008
Better headline!
11/23, 08:20am (1 reply) reply
A more appropriate headline should read "Apple a bigger rip-off than Harrods". I wonder is this yield the highest of any Applestore? In case any state-side readers are wondering about this comment, checkout the UK online store with a currency converter beside you!
Feathers
Forum Regular
Joined: Oct 1999
Half-right Feathers
11/24, 07:26am reply
Hey Feathers, whilst I agree with a point that you're half-making - that is, Harrods is largely a rip-off - I can't help but wonder whether you've conducted your currancy converting hobby on, well, *any* other tech company that sells it's wares on both continents?
Just today PC Pro have reported - http://www.pcpro.co.uk/blogs/2009/11/23/the-new-ati-radeon-hd-5970-42-more-expensive-in-the-uk/
...and certainly the three gaming consoles have a cheaper pricetag over in the States...
It's a fact of life unfortunatly, hopefully we all manage to find solace in the fact that other countries (Australia always springs to mind first) have it even worse than us!
Logicub
Fresh-Faced Recruit
Joined: Nov 2009