Apple’s strategy of selling occasional purchases to wealthy customers has paid off in spades, as the computer retail giant once again is the leading chain of stores in the United States, topping Tiffany’s by more than double, The Financial Times reports.
The Silicon Valley superstar posted sales of $6,050 per square foot in the year ending June 30, topping jeweler Tiffany & Co and Lululemon Athletica, the leading yoga apparel company, according to a report from Retail Sails.
Although the Samsung Galaxy s3 has cut into iPhone sales and tablet makers like Amazon with the Kindle compete with Apple’s iPad, the Cupertino, Calif.-based Apple has still set industry standards and its stores remain very popular. Apple also has received some bad news of late as head of retail John Browett recently left the company.
Analysts are divided about whether the 390 sleekly designed stores are the draw, or whether it’s the style of products, but clearly Apple remains the hot name in consumer’s minds.
“Consumers get excited about the product,” Robin Lewis, chief executive of The Robin Report told the FT.
“Attached to that is also a learning process. You’ve got these young, attractive [store staff] and they’re all addicted to the brand themselves.”
Tiffany’s finished second , which had sales per square foot of $3,017, while Lululemon was in third place with $1,936. Handbag giant Coach was a close fourth at $1,871, while fashion house Michael Kors rounded out the top five with $1,431 per square foot in sales.
Rounding out the top 10 were Select Comfort, which owns Sleep Number stores, denim manufacturer True Religion; women’s bag company Vera Bradley; jeweler Birks & Mayors and Fairway, an upscale supermarket.
General retailer Wal-Mart, by comparison, had sales per square foot of $424.
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