Latest in Apple financial

Image credit:

Apple Store boosts revenues for entire shopping district

Share
Tweet
Share
Save

Sponsored Links

There's an old saying that "A rising tide lifts all boats," but nowhere has the truth of that saying been demonstrated more than in Berkeley, Calif., where the opening of the Fourth Street Apple Store in 2011 quadrupled sales tax revenues for the district in which the store is located.

That quadrupling is just in the sales tax category in which the Apple Store is placed -- "furniture and appliances" -- but the impact of the opening is apparent even when all of the various categories are shown together.

As pointed out on ifoAppleStore.com, it appears that the Apple Store was placed into that category specifically to disguise its contribution to overall tax revenues. The website did a quick calculation based on the revenue trend and determines that the store will probably have about US$38.4 million in sales for the first quarter of 2013, more than twice the per-store average for all Apple Stores.

A PDF copy of the City of Berkeley economic report is available for viewing here.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share
Save

Popular on Engadget

The best consoles, games and accessories for students

The best consoles, games and accessories for students

View
Sony and Yamaha are making a self-driving cart for theme parks

Sony and Yamaha are making a self-driving cart for theme parks

View
Trump tries to overturn ruling stopping him from blocking Twitter users

Trump tries to overturn ruling stopping him from blocking Twitter users

View
Divorce dispute leads to accusation of crime in space

Divorce dispute leads to accusation of crime in space

View
Scientists bioprint living tissue in a matter of seconds

Scientists bioprint living tissue in a matter of seconds

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr