Asymco Publishes The Latest Performance Figures For Apple Retail Stores


Asymco’s Horace Dediu has today published the latest performance figures for Apple Retail Stores, suggesting that overall profitability has been more steady over a long period, though relatively volatile in a short-term window. The study reflects that revenues, employment and visitors per store have been either flat or slightly down when seen on a ‘seasonally adjusted basis’.

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The author notes that since Apple Stores mainly sell Apple products, if Apple products slow down, the retail sales should also slow. Back in in 2007, Steve Jobs said that the Apple stores had been built to sell the iPhone and in 2010, Ron Johnson said the Apple stores had been built to sell the iPad. While both statements were meant metaphorically, they seem to be actually quite accurate when looking at what Apple has actually sold.

The pattern that seems to appear is one of a plateau or peaking of sales, especially when values are seen on a per-store basis. Seen in isolation, Apple Stores would appear to be coming to a point of quiescence.  But they should not be seen in isolation. Apple Stores mainly sell Apple products, so if Apple products slow then retail sales should also slow.

So at the end of the day, the performance of the Apple stores depends on the performance of Apple’s portfolio of products. It stands to reason that as iOS units slow, Apple stores should as well.

So, if Apple is confident in the future of iOS, it should be investing more in retail in addition to other capital projects such as manufacturing.

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  • JimGramze

    I am a long time Apple customer, since 1984, and I’m anxious to learn the price of the upcoming Mac Pro. We go to the Apple store once in a while to check out what is current but we buy from Apple online, not from the store. My wife and I see the Apple store as mainly being there for new customers, not seasoned ones. We can tell by the interaction between sales staff and customers that the customers are mainly new to Apple. If we are right then a slowdown in Apple Store sales would mainly mean a slowdown in new converts.

  • Chrome262

    I actually buy things from the store. My pro I got on-line, but accessories, like wireless speakers and keyboards, mice etc, I get from the store. Hell my thermostat is from the Apple store. its usually things I don’t want to wait for, or save on shipping. But I am in and out, the crowds in the store are crazy and while the layout is great for trying out products its a pain when you are trying to buy something. So my wife for example either avoids it, or goes when she feels there will be less people. So in replay I think old customers do go, but yeah the training and such is for new people and they are loads of them