Filed under: Apple Corporate, Retail, Apple Financial
New York's flagship Apple Store doing great business
New York City's flagship Apple Store, located on 5th Avenue in Manhattan, is doing tremendous business. According to The New York Post, that store raked in $440 million in one year. Of course, the location doesn't hurt. It's right by Central Park and the huge, glass cube is a real tourist draw. The Post also notes that the SoHo store pulled in $100 million, but didn't provide any stats on the West 14th Street store. In the meantime, construction has begun on what's rumored to be a fourth NYC store, expected to open at the corner of 67th and Broadway on Manhattan's Upper West Side later this year. If that store and a rumored Brooklyn store are opened, NYC would boast six stores total (including the Staten Island store).
Apple intends to open 25 new stores for fiscal year 2009, half of them outside the United States.
[via AppleInsider]
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Reader Comments (Page 1 of 1)
Hi Kenneth said 6:20AM on 6-03-2009
I would really like to see the Brooklyn Store. I hade going to Manhattan just to get to my Apple Store. Sure theres Best Buys there, but it doesnt feel the same...
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Luna Lovegood said 9:20AM on 6-03-2009
"I hade going to Manhattan..."
That's fine -- we don't care much for Brooklynites either.
Hi Kenneth said 8:06PM on 6-03-2009
I dont "hate" Manhattan. I just hate it when I have to go to the Apple Store, and take like 2 buses and take like 2 trains to get there. I go to school in Manhattan and like it, but the Apple Stores are just too far away. Sure you can say that I can go to Staten Island, but then I would have to either a really long bus ride or pay $10 to cross the Verrazano.
Timothy Post said 8:36AM on 6-04-2009
Privyet Yabloko,
A store in Moscow (think: Tverskaya or GUM) is long overdue. The Apple brand here is very strong and a retail store would further fuel Apple's growth.
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ErnieP said 7:17AM on 6-03-2009
It's easy to rake in money when you overcharge your customers and make insane margins.
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ianlive said 8:18AM on 6-03-2009
ErnieP escaped from The Unofficial Windows Weblog! Call the authorities before his thoughtful logic spreads to the public and ruins Apple forever!
Scott said 6:22PM on 6-03-2009
I think everyone will agree that after reading you comment that only thing to do is vote you down.
button on the left folks
vicmacsprieto said 8:34AM on 6-03-2009
LOL
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Darryl Yee said 12:40PM on 6-03-2009
seems hard to believe a retail store can average $1.2million per day. That means 1200 people have to spend $1000 each. Or 2400 people spending $500 each. I've never been there so I don't know how crowded it actually gets, but those numbers seem quite high.
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Joey said 10:00AM on 6-03-2009
I agree but have you ever been in that store? You can hardly move. It's constantly packed with people.
Joey said 10:01AM on 6-03-2009
Reading helps... :P You've never been in the store. But yes, there's quite a few people there.
Michael Rose said 10:05AM on 6-03-2009
They do seem high -- as the Post article noted, they're astronomical -- but the traffic in that store is truly something to witness.
It's not clear if the $440M number included the iPhone launch period, which would have potentially skewed the numbers for the entire year... lots of people buying $600 phones.
PSM said 10:55AM on 6-03-2009
Well think about it. There are easily a couple hundred people in there at any time, and it's open 24 hours a day. Even in the middle of the night there's more people in there than an average Apple Store would see in the middle of the day. A lot of those people are tourists who have a) a lot of money to spend and b) maybe don't have an Apple Store where they come from, so they've been waiting to get there specifically to make a major purchase.
I hope that store in Lincoln Square is true. It would finally be one that was located conveniently for me to get to from home, and maybe a little less crowded.
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Peter said 11:13AM on 6-03-2009
I wish they open up a store in Hong Kong... they've got one in Beijing... but still no shop in Hong Kong... it is a big disappointment really. I would have thought Hong Kong being a gateway to China from the world, and a pretty important city in the world map, they will deserve some attention from Apple... But I guess there's a lot of contractual agreements that forbid Apple opening it's own store in many places where they do not distribute their own products, ie: Hong Kong.
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Eddy120876 said 11:32AM on 6-03-2009
Yeah that place is a tourist magnet
I remember when Apple only had the Soho store. OMG that place was even worse than this one.You had to pratically wait 40 minutes plus just to try a mac, and to get your ipod or mac fix it would take over two hour or more specially fridays. The great thing about the Soho store is that they have mini concerts all year long. Last one they had was the Jonas brothers and the residents were piss off to no end because of the teen and pre teens were getting rowdy ..lol can you believe it pree teen girls menacing old people because of the Jonas brothers..LOL
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Eroded Fallacy said 11:39AM on 6-03-2009
The Apple Store on 5th Ave is located in the shopping district in NY its full of uber expensive stores. So it shouldn't surprise anybody who actually knows about Manhattan.
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cdd1252 said 11:46AM on 6-03-2009
The Apple Store in SOHO always ticks me off. They always leave their front doors wide open in the summertime, wasting tons of energy on AC. I thought Apple was supposed to be an environmentally friendly company - isn't/wasn't Al Gore on their board?
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stooobe said 12:58PM on 6-03-2009
Is that even possible?
$440,000,000 / year
= $1,205,479 / day
= 482 laptops / day (assuming $2500 per laptop)
That sounds like a ridiculous quantity of laptops!
Maybe they're booking all iPhone revenue up front? So something like $250 for the phone + $100/month*24months = $2650 / iPhone?
So then 482 laptops + iPhones / day at about $2500 each? I guess that's more plausible but still, wow!
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