Dive Brief:
- Apple Inc. ranked 24th among all U.S. retailers by in-store sales, according to a MarketWatch Euromonitor study.
- The company is now bigger in bricks-and-mortar sales than chains such as Bed, Bath & Beyond, J.C. Penney, Trader Joe’s, and 7-Eleven.
- In-person retail sales represented just 12% of the computer giant’s overall sales in fiscal 2014 though, dwarfed by online and wholesale revenues.
Dive Insight:
Apple, one of the world’s largest company—worth $700 billion, according to its market valuation—is now a Top 25 retail chains in United States. While Wal-Mart is still the top U.S. retailer for in-store sales by far, Apple pushed ahead of familiar chains such as Gap and 7-Eleven with a relatively small number of outlets nationwide.
Apple is second only to Best Buy in consumer electronics, and tops every other retailer in annual sales per square foot; at $4,600, it bests luxury boutiques such as Tiffany & Co. Apple is the world’s 39th biggest chain worldwide, Euromonitor says—and with five of its sleek stores opening in China this month, the company is set to climb in the rankings fast.
