Fifth Avenue Apple Store Annual Revenues Reach $350 Million

apple store iphone launch

People just won’t stop buying iPhones!

As U.S. retail sales dropped 9% in the first six months of 2009, sales at Apple (AAPL) stores increased by 2.5% to $3 billion compared to the same period last year, Bloomberg reports.

The stores’ performance can be credited to the iPhone, an analyst tells Bloomberg. The traffic to the Apple stores increased 22% to 38.6 million visitors in Q2 ’09.

The star if the show is definitely the Apple store on Fifth Avenue in New York City. The 10,000 square-foot store has 500 employees, and it is open 24 hours, seven-days-a-week. It’s annual sales are $350 million, estimates Jeffrey Roseman, a VP at Newmark Knight Frank Retail in New York. Previously, we’d heard the number was closer to $440 million.

To put that number in perspective, consider that Microsoft Zune sales are down to below $100 million per quarter.

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