Apple Proud of Retail Store Momentum

During today’s conference call with financial analysts, Apple chief financial officer Peter Oppenheimer confirmed Steve Jobs’ announcement last week that the company’s retail stores generated $1.072 billion in revenues for the first fiscal quarter of 2006, which included the busy holiday shopping season. The stores generated a profit of $90 million for the quarter, compared to $35 million in the previous quarter, and $45 million in Q1 2005. Oppenheimer said Apple was “very proud” of the momentum the stores have generated, and he briefly outlined the store’s financial success over the past five years. He said Apple will continue to open stores “at a measured pace,” and reiterated that 40 new stores will open during fiscal 2006. In response to a question, Oppenheimer said “most” of the new stores will open in the U.S., but that Apple would continue to open stores in Canada, the UK and Japan. He conspicuously did not mention Italy, where personnel are being recruited for a Rome store.