Apple Stores by the Numbers
Is it any wonder that online giants Google and Amazon are both reportedly planning to test the waters with physical stores? Certainly not when you look at some of the retail stats from Apple’s amazing first quarter (ended Dec. 31, 2011). The company had record revenues of $46.3 billion, and its stores continue to astound.
- Apple stores produced $6.1 billion in revenues for the quarter.
- The average revenue per store increased to $17.1 million from $12 million last year.
- Total store traffic during the quarter increased to 110 million visitors, up 45% over the 76 million in the year-ago period. That translates to an average of almost 22,000 visitors per store per week.
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Electronics e-retailer names new CEO
CITY OF INDUSTRY, Calif. — Newegg Inc., the electronics-focused e-retailer, has promoted Bob Bellack, the current president and CFO of Newegg North America, to CEO of Newegg North America. Dr. S.C. Lee has assumed the role of vice chairman of Newegg North America.
As CEO of Newegg North America, Bellack will be responsible for overall leadership and management of the company’s North American operations. Prior to Newegg, he held the dual role of CFO of the Los Angeles Times and president of Digital Media operations. Before his move to the LA Times, he co-founded Classified Ventures where he served as CFO, following several senior management positions at the Tribune Company.
Lee has held key leadership roles within Newegg since joining the company in 2005 and has been instrumental in helping the company grow every single year. As vice vhairman of Newegg North America, he Lee will focus on managing and enhancing Newegg North America’s strategic vendor relationships. Lee will also continue to serve on the board of directors of Newegg Inc.
"Bob is an excellent fit for the CEO role given his proven track record in effectively managing growing businesses," said Fred Chang, founder, chairman and CEO of Newegg Inc. "I thank Dr. Lee for all of his contributions to date at Newegg and congratulate him on his new responsibilities with the company. I am confident that Bob, with Dr. Lee’s continued support, will drive Newegg to even greater heights."
Macy’s continues sales streak
CINCINNATI— Macy’s continues to see improved financial performance, reporting fourth-quarter sales and earnings today that exceeded management’s expectations.
The company reported fourth-quarter earnings per diluted share of $1.74, compared with diluted earnings per share of $1.59 for the fourth quarter of 2010. Sales for the quarter increased 5.5% to $8.7 billion from $8.3 billion last year. Same-store sales for the quarter increased 5.2%.
“We have more than doubled our earnings over the past three years, driven by innovative strategic initiatives that are being executed with discipline at both Macy’s and Bloomingdale’s. Our diluted earnings per share, adjusted for certain items, grew by 36 percent in fiscal 2011, on top of double-digit increases in each of 2009 and 2010,” said Terry Lundgren, chairman, president and CEO of Macy’s, Inc.
In fiscal 2011, the company opened four stores and closed 12 stores.
For fiscal 2012, the company is expecting same-store sales growth of approximately 3.5%. Guidance for earnings per diluted share in fiscal 2012 is $3.25 to $3.30.