Apple’s retail store’s have finally reached the $1 billion mark for lease commitments, according to the company’s latest financial filing with the federal Securities and Exchange Commission (SEC). The figure is an increase of $94 million from the previous quarter, and represents a doubling of commitments since the first quarter of 2005 when there were 95 stores open. Interestingly, Apple’s retail store staffing declined for the first time in history, from 6,612 employees in the previous quarter to 6,348, or 264 fewer. Apple reports its store staffing as “full-time equivalent employees,” allowing for a substantially higher number of personnel who actually work in the retail stores part-time. However, it’s not clear how or why staffing changed, even as seven new stores were opened. Apple’s total retail investment in the stores now totals $1.8 billion between leases and capital expenditures.
E-mail this story
Related posts:
Loading ...
{ 3 comments… read them below or add one }
Seasonal temps would account for the decline in staffing.
Could be that there are more area managers managing multiple stores…
Aghhh…. Or they just hate working for Apple?