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For six years, the Internet Nexus served as my technology blog, but I've since started blogging at the SuperSite Blog instead. If you're looking for the blog, please head there. --Paul

Thursday, February 26, 2004

Apple CFO Anderson: Retail Stores Not Doing Much

IFO Apple Store: "Unlike other companies, Apple chief financial officer Fred Anderson said, Apple does not intend to have 300 stores--only profitable stores, and the enhancement of the company's brand and other Apple resellers. He said the gross margin for Apple's stores was 3.3%, giving them $9 million profit on revenues of $273 million during the latest quarter. That does not include $52 in manufacturing profit, Anderson explained, which is money retained by the company as profit, and which isn't attributed to the stores. Asked if the company was pleased with the 3.3% margin for stores, Anderson said the company is 'very pleased' the stores are profitable."

Note that Apple's margins are typically 26 percent. Note further that Mac Observer's article about this story purports to be a "scoop" despite the fact that it's clearly based on the IFO Apple Store story.

[ Posted at 10:48 AM | Permalink ]