Apple's retail engine keeps on rolling

The company plans to open 40 to 50 new retail stores in 2010, said Ron Johnson, its senior vice president of retail, at a recent store opening in New York. More than half of these will be outside the United States; some will be in London, Paris and Shanghai.

That speaks to the continuing strength of Apple in an uncertain market and the burgeoning demand for its products. Apple now has 280 retail stores in 10 countries. They saw almost 46 million visitors in the third quarter, up 7 percent year over year. The stores chalked up revenues of nearly US$1.88 billion in the quarter, a new record that was 9 percent higher than the previous year's figure.

Annual revenue per store is about $26 million, or roughly $4,300 per square foot, Johnson said.

Highly profitable stores and a company that plans to open more make for a heady mix, and the fumes seem to be attracting investors. "I remain extremely positive on Apple and the outlook for its shares," Brian Marshall, an analyst at Broadpoint AmTech, told MacNewsWorld. "It's still the best technology company on the planet, in my opinion."

Shares for Apple closed at $206.54 Tuesday. That was down 9 cents for the day, though the value remains within a few dollars of its 52-week high.

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