What Recession? Apples $400 million dollar store

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Popular New York paper The Post was doing a investigation into the recession and the empty retail space available along Fifth Avenue, New York’s famous shopping district that is home to luxury stores such a Tiffany, Armani and Lacoste.

During their investigation they managed to find numbers detailing how much money Apple pulls from its Fifth Avenue store. The figure? Over $440m a year.

That’s quite a lot of cash for one store. In fact, even for Apple who are known for their high prices as much as their elegant design it’s quite an amazing amount of money to run through a single outlet — the companies Soho store reaching only around a quarter of that price. By comparison, their newest store in California is expected to bring the company around $20 million a year.

No one is really sure exactly why Apple are making quite so much from their New York location, though we figure it might have a lot do with the cheap price of electronics in the US combining with the amount of tourists that visit the city every day. For example, a UK tourist buying an iPhone in the New York apple store can save around a third of the UK price.

Many Apple stores across the world are being remodeled for bigger display and customer training events, so it doesn’t look like Apple is going to be slowing down its retail presence any time soon. So much for the credit crunch, eh?

Posted on June 4, 2009 | Filed Under Tech