Apple Stores Earn More Per Square Foot than any Other Retailer
Itís no surprise that Apple retail stores have been hugely successful for the company, but in a recent report by RetailSails, Apple ranked number one in sales per square foot. According to the report, Apple earns $5,626 per square foot at each of their retail locations. By comparison, the next retail establishment on the list, Tiffany & Co., only earns $2,974 per square foot. Thatís quite a difference considering that Tiffanyís specializes in high-priced jewelry and diamonds.
The only other comparable companies on the list in the top ten are GameStop and Best Buy. By comparison, GameStop makes just over a thousand dollars per square foot and Best Buy only brings in $831. This shows just how successful a player Apple has become in the retail industry since they opened their first brick and mortar store, ten years ago.
RetailSails looked at over 160 retailers, not including restaurants, that publicly report their financial information. The results of the study measured all store revenues in gross sales per square foot and excluded the following: e-commerce, catalog, franchise, licensed, wholesale, membership and financial services revenue. RetailSails is known for providing detailed analysis regarding the retail industry.
Considering the fact that Apple has only had retail stores for the last ten years, the results of this study are quite impressive. Recently, Apple was also named the countryís fastest growing retailer. With three new stores slated to open this weekend in Charlotte, Little Rock and Paris, it appears that Apple doesnít have any plans to slow down any time soon.
With news of Steve Jobís resignation just hitting the web, hopefully Apple will continue to be as tremendously successful under the leadership of Tim Cook as they have been while Steve has been at the helm.