Monday, June 07, 2004, 05:00 pm PT (08:00 pm ET)
Exclusive: Apple projects retail store revenue to double in 2005AppleInsider Exclusive
Apple's retail stores are expected to reach over $1 billion in revenue this year and $2 billion next year, according to prepared statements that were presented to Apple Retail employees during the company's quarterly retail store meeting on Sunday.
Apple also told employees that 82% of .Mac members have renewed their subscriptions and the service retains a subscriber base in excess of 500,000.
Additionally, since the introduction of iTunes 4.5 in April, the company has reportedly sold more than 500,000 iPods to both Mac and PC users.
During the meeting, employees were shown videos featuring various Apple Store managers and their retail service success stories. One clip highlighted an Apple retail store that recently sold $115,000 worth of computers to an educational institute that had received grant money. The school reportedly decided to make the significant purchase from Apple after a number of its teaching staff had taken and enjoyed some of the classes offered at Apple's retail stores.
The remainder of the meeting provided overview of what services Apple offers in its retail stores and how various groups of customers can take advantage of each service.
On a side note, reliable sources warned that Apple may have varied some of the figures presented at the meetings (on a store to store basis) in an effort to flush out media leaks from its Apple Retail employees.
Apple will hold its third retail meeting sometime in late September or early October, sources said.
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