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Apple Stores Are Now 13 Years Young, Most Profitable Retail Space In The World

Apple Stores Are Now 13 Years Young, Most Profitable Retail Space In The World

May 19, 2014
Thirteen years ago today, Apple opened its first two retail stores at Tysons Corner Center in McLean, Virginia, and the Glendale Galleria in Glendale, California. Since then, the number of Apple stores has climbed to 424 worldwide, with 254 of them based in the United States. Back in 2001, many didn't expect Apple’s entry into retail to succeed. Businessweek, for example, explained “Sorry, Steve: Here's Why Apple Stores Won't Work.” The Street called Cupertino’s move “scraping the bottom of the barrel," stating:
It's desperation time in Cupertino, Calif., as Apple is going into the retail store business to ensure that its products receive enough attention. This move is fraught with problems, however, because the reason that Apple products are not getting the retailers' attention is because they are not selling well. If Apple machines were moving fast off the shelves, retailers would be happy to provide the shelf space.
Apple’s stores are now the most profitable retail space in the world, with sales topping $6,000 per square foot each year. A week before Apple opened its first two retail stores, the late Apple CEO Steve Jobs took the world on a tour of the Tysons Corner Center location. Take a look: To celebrate 13 years of Apple retail stores, Retale has published a fascinating map that shows when, and which, stores opened in the U.S. To see the map in real-time, click here. See also: Apple Overtakes Staples, Grabs The No. 2 Position In Online RetailSteve Jobs Is Probably Smiling From Above As Apple's iPhone 4s Remains Incredibly Popular, and The Reason Now Is A Great Time To Shop At Apple's Online Store.

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