Apple Inc. (AAPL) Plans To Open Upto 35 Stores In 2013

Apple Inc. (AAPL) Plans To Open Upto 35 Stores In 2013
ElisaRiva / Pixabay

Apple Inc. (NASDAQ:AAPL) is not only enhancing its product line, but it also plans to expand its geographical presence.  Apple Inc. (NASDAQ:AAPL) announced plans to open another 30 to 35 retail stores by September of next year. As per the company, two-thirds of these stores will be located outside United States.

Apple Inc. (AAPL) Plans To Open Upto 35 Stores In 2013

The plan for the new stores was included in the company’s annual report, filed yesterday with the Securities and Exchange Commission. The tech giant also revealed plans to spend about $850 million on expansion and investment into its current retail infrastructure.

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Apple’s plans for 2013 are anearly identical to what it had planned for 2012. The company opened 33 new stores this year, bringing Apple Inc. (NASDAQ:AAPL)’s full tally to 390 stores worldwide. Of the 33 stores opened in 2012, 28 were opened outside the U.S. Last year, in 2011, the company inaugurated a total 40 stores.

As of September 2012, Apple Inc. (NASDAQ:AAPL) has 250 active Apple Stores in the U.S., compared to 140 international locations. Recently, the company opened its largest Asian outlet at the Wangfujing mall in Beijing, China.

The Mac maker also announced this week the departure of retail chief John Browett. During his tenure, there was a widespread belief that the company’s retail efforts are not as healthy as they once were and it was making cutbacks on staffing, as well as in-store features. However, as an end to these rumors, company reported a 33 percent rise in retail sales, mainly due to the iPhone 4S and iPhone 5, as well as its two latest iPad models. Though, sales made at Apple stores made up 12 percent of Apple’s total sales for 2012, compared with 13 percent the year before. The search for a suitable replacement for Browett is already underway, for the time being, CEO Tim Cook will be handling the division.

“The growth in net sales during 2012 was driven primarily by increased demand for iPhones, following the launches of iPhone 4S and iPhone 5, strong demand for the new iPad and iPad 2, and higher Mac net sales,” according to Apple’s filing.

Despite the decrease in retail’s overall contribution to Apple Inc. (NASDAQ:AAPL)’s revenue, per store performance went up to $51.5 million in revenue, compared to $43.3 million in 2011.

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