No recession at Apple's Fifth Ave. NYC store
Apple's clearly onto something with its 24-hour store plopped down in a tourist hot spot.
The New York Post reports that as of sometime last year, Apple was pulling down $440 million a year in sales at its Fifth Avenue Apple Store in New York City. The numbers surfaced in the paper's investigation of empty retail space along Fifth Avenue.
The Fifth Avenue Apple Store in New York City.
(Credit: Marguerite Reardon/CNET)Even if it is a high-end retail outpost for Macs, iPhones, and iPods, that's an impressive amount of money coming in when seemingly every retailer was clobbered by the arrival of the current recession. By comparison, the SoHo Apple Store rakes in about $100 million per year, according to the Post. And one of Apple's newest locations, in the prime shopping district of the ritzy California coastal town of Santa Barbara, is expected to pull in $20 million annually.
It's interesting insight into the company's flagship location, since Apple does not break out individual stores' take. The company did report in its second-quarter earnings filing that its 252 stores worldwide brought in $1.47 billion collectively for the quarter.
All of this explains why the company has not stopped investing in its retail presence. Apple's senior vice president of retail, Ron Johnson, said last week that 100 of its stores will be remodeled this year to allow for bigger displays and room for customer training courses.
The shopping frenzy at the tourist-clogged Fifth Avenue location isn't like to abate anytime soon, particularly if Apple releases new iPhone hardware next month, as is widely expected.
Erica Ogg is a CNET News reporter who covers Apple, HP, Dell, and other PC makers, as well as the consumer electronics industry. She's also one of the hosts of CNET News' Daily Podcast. In her non-work life, she's a history geek, a loyal Dodgers fan, and a mac-and-cheese connoisseur. E-mail Erica. 
I bet they are taking in more than that.
Something about a fool and his money and an Apple user being born every minute
They're just a fad.
Ever see how much cash they have? What about their stock price?
Of course, not all sales are computers. There are iPods and iPhones and monitors and such, and software and what not, and lots of overpriced accessories, so let's cut the average value of a sale (item(s)+accessories) to $600 to account for all of that. That means 90 sales an hour of something or another.
Anyone who's ever been to a large New York City store of any kind knows those places are zoos and things sell, sell, sell. It is not unlikely that they are making 1.5 sales a minute. Or more likely 2-3 sales a minute during peak hours, 0.5-1 off peak.
- by sciontcya June 2, 2009 4:07 PM PDT
- This place KILLS ME!
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(16 Comments)You MS butt-lickers don't ever take a day off?
MS is the GM of the computing world.
Apple is not even comparable to a car company as they all suck in comparison.
AAPL has provided me and my family a lot over the years, not the least of which is the best phone, music players and computers.
LOLZ Ballmer-boyz