Apple’s original vision for its retail stores was too small and they’re now “bulging at the seams” with an average size of 8,400-square feet, Needham & Company analyst Charles Wolf says in a note to clients — as reported by “AppleInsider” (http://www.appleinsider.com).
The number of visitors on a per-store basis has grown at a 15.3% annual rate, making Apple’s initial vision of 6,000-square-foot store just too small, he adds. At the end of the March quarter, Apple had a total of 363 retail stores open, with a third of them overseas.
“The company has had to rethink this strategy as the crowds have grown,” Wolf writes to clients. “Apple is moving some existing stores to larger locations.”