AppleInsider is reporting on Apple’s quarterly retail store meeting that was held Sunday, during which the company forecast fiscal 2005 retail sales of $2 billion. Apple reps also said 2004 revenues will total $1 billion for fiscal 2004 (previously, Ron Johnson has said the stores would reach sales of $1.2 billion). On the 2005 forecast: average store sales have topped out at about $16 million a year, so Apple’s forecast of 88 stores by year’s end would generate just $1.4 billion in revenues. To reach $2 billion, Apple would have to open another 31 stores in 2005. Even factoring in 20% per-store sales growth, there would have to be 15 additional stores opened during 2005 to reach $2 billion. To reach $2 billion with just 88 stores, current per-store sales would have to increase 40% during the next year, not a likely scenario.

No related stories