iPad propelling Apple retail store business, up 72.8% year-over-year
Digital Daily has published an interesting report about the profitability of Apple retail stores. The report states that in Apple’s last quarter — Q3 for Apple — the fruit company’s retail arm brought in $2.58 billion, a 72.8% jump from Q2 of 2009. In a retrospective comparison, Digital Daily notes that $2.58 billion is, “greater than the company’s total quarterly revenue from the second quarter of fiscal 1996 through the fourth quarter of fiscal 2004.” The iPad is being given credit for much of the retail success, the launch has, “generated a 38.7 percent increase in visitors per store, a 52.9 percent increase in same-store revenues, and a stunning 106.3 percent increase in non-Mac revenues.” We’ve heard that Apple retail stores gross more than double (per square foot) than high-end retailer Tiffany’s, and with numbers like this, we aren’t having a hard time believing it.
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