updated 05:05 pm EDT, Mon May 23, 2011
Revives outlet's potential
In spite of rumors, New York City's Metropolitan Transportation Authority has talked with Apple about a possible store in Grand Central Terminal, according to MTA spokesman Jeremy Soffin. Although an Apple spokesman has refused to comment, Soffin adds that he hopes the company will bid on a space that's become available for rent. Other businesses may choose to compete for the location.
The space measures 15,230 square feet, which if Apple does bid may make it the iPad maker's smallest store in Manhattan. The Wall Street Journal argues, however, that because it would be situated in the middle of a major tourist and commuter hub, it might take in even more money than Apple's Fifth Avenue store. The latter runs 24 hours a day almost year-round, and is one of the most profitable retail shops in a district known for luxury outlets.