Apple Inc.'s retail store locations have reached their highest revenues ever on a per-store and per-customer basis, according to a recently released report. The positive news follows Apple's decline last quarter in profitability, it's first in over a decade, and generally negative stock market performance.
The report, by researching firm Asymco, estimated that on average each Apple Store location generates $13 million in revenue on a quarterly basis, its highest ever amount during a non-holiday period. Making the company's stores more profitable than Tiffany & Co. and Lululemon Athletica Inc. retail locations on a per square foot basis. In addition, the report states that quarterly store traffic has increased by 7 percent to around 250,000 customers per store, generating a record $57.60 per customer.
While the report did speculate that the revenue increases could possibly be attributed to larger new store sizes and bigger old store updates, Apple still continues as the gold standard of retail. Given the integral role that the Apple Store plays for company branding and customer engagement, Apple's renovation and overall market expansion strategy, specifically in China, will likely continue for the near future.
Despite the impressive $6.4 billion in revenue that Apple Stores generated during the first quarter, the company is still often viewed with skepticism on Wall Street. However, if the success of the Apple Store is any indication, the upcoming expected refresh of the iPhone 5 and iPad lineup should be the catalyst needed for a stock market turnaround.
