According to real estate marketing documents for the General Motors building on New York City’s Fifth Avenue, the underground Apple store was generating $440 million in annual sales as of last year. The revelation was made in a New York Post story on the changing retail tenants along Fifth Avenue, and was obtained from a prospectus in connection with the sale of the GM building. Other sources told the newspaper that the SoHo store does $100 million in sales each year. The figure for the SoHo store coincides with financial figures revealed to IFO for the third quarter of 2007. However, the Fifth Avenue sales figure represents over twice the sales reported to IFO by tipsters for Q3 2007. It’s not clear if sales in the intervening year could have more than doubled to the $440 million figure as reported for Fifth Avenue.
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Guido
June 3, 2009 at 3:41 am
ZoetMB
June 12, 2009 at 7:10 pm
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[offtopic] Why don’t you put your posts on your Twitter account?
Greets Guido
That’s fantastic if accurate, but at a per-capita sale of $1200 (which is doubtful considering Apple sells a lot more iPods and iPhones than computers), that’s 1000 sales a day.
The 5th Avenue store is open 24 hours a day, so that’s 42 $1200 sales per hour. The store is always busy during regular hours, but I’m not sure that sales number is credible.
The $100 million figure quoted for the SoHo store translates to 227 $1200 sales per day. I’m not sure that’s credible either.