If the NYPost’s numbers are correct, Apple’s 5th Avenue store is pulling in more than its fair share of revenue. The store, which is open 24 hours a day, 365 days/year pulls in $440 million in revenue per year or a staggering $1.2million a day, including weekends and holidays.
Before the GM Building was sold to a Boston Properties partnership last year, a prospectus shown to possible purchasers revealed the Apple store under the famous glass cube was doing an incredible $440 million a year. By comparison, sources said, Apple’s outpost at Prince and Greene streets does $100 million. (The uptown Apple is larger, but not by much — it has an estimated 10,000 square feet of selling space compared with 8,500 feet in SoHo.)
What’s interesting is that Apple’s Soho store, which is roughly the same size, but includes large presentation/learning stage areas "only" pulls in $100 million a year(woops!). The 14th Street store has more square feet than either of the other stores (32,000 vs 25,000 5th Ave and 21,000 Soho). That means it likely does similar sales, if not more than Soho. That puts the three stores in New York at a minimum of $600-700/year. That’s roughly $2 million per day!
From Apple’s SEC filings, we know that Apple’s store sales range from $1.4-2 billion (holiday quarters higher than current) per quarter or $6-8 billion/year. That puts the three Manhattan stores at around 10% of the total global store revenue.
That’s a lot of iPods brought home by tourists, props to whoever makes the best "Big Apple" pun in the comments.
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