Feb. 12, 2013
Apple CEO Tim Cook told attendees at the Goldman Sachs investor conference that Apple plans to close 20 of its retail locations in order to relocate and enlarge the stores — a move he said was to accommodate the influx of Apple customers shopping at the brand's brick-and-mortar locations.
According to an article on techcrunch.com, Cook said that Apple's 400-plus stores serve the more than 10 million weekly shoppers and generate an average of $50 million each in revenue.
Cook added that Apple stores were a competitive advantage for the company, and that it's becoming clear that its retail model isn't easy for everyone to replicate. "I'm not even sure 'store' is the right word anymore — they're much broader than that," he said. "They are the face of Apple for almost all customers."
Showing a bit of personality, Cook equated the experience of entering an Apple store to taking an antidepressant. "I don't have very many bad days," he said, "but if I ever feel like I'm dropping down from an excited level, I go into a store. It's like a Prozac or something!"
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