By Ed Oswald | Friday, April 24, 2009 at 12:20 pm
Apple certainly made it through this past quarter in great shape. Nobody is complaining about the company’s results, which by all accounts were stellar. However, Cupertino does have a retail arm, and like any other it’s beginning to struggle.
Average revenue per store is down 17 percent – falling from $7.1 million in the year ago quarter to $5.9 million. It could be argued that the only reason overall sales numbers were up slightly (1 percent) was the fact that 46 new locations have been added since then.
(Imagine the Wall Street carnage if Apple hadn’t opened a single store — eek.)
Thus, the company’s gotta do what its gotta do. That means layoffs — 1,600 full time employees will be cut across its 250+ stores. That would amount to about 10% off its current total workforce of around 15,600.
One thing is for sure however: the frantic pace at which Apple had been opening new retail locations appears to be a thing of the past. Sign of the times, ain’t?
More about Apple’s plans can be found in this SEC filing.