Happy 10th Birthday to the Apple Store!

Credit: Apple

Today on Yahoo! Finance, The Daily Ticker, article by Peter Gorenstein, discusses the Apple Store's success after opening 10 years ago. In 2001, Apple opened their first two stores, one in Tysons Corner, Virginia and the other in Glendale, California. Today, while other electronics retailers are seeing declines in their sales, Apple continues to prosper. According to Gorenstein, based on sales per square foot, the Apple Store's 300 stores and over $9 billion in retail sales last year can put them as the most successful retailer in the world.

Other retail stores aren't fairing as well in recent years. Circuit City closed down their stores two years ago, and Best Buy has not seen any advantage as a result. Gorenstein claims that Best Buy has reported three straight quarters of declining sales. Dell and Microsoft have tried mimicking Apple's approach by opening their own stores, so it'll be interesting to see how well they end up doing, although it's doubted that they will see the kind of success that Apple does.

Click the link below to read the full article by Peter Gorenstein and to watch the video with Aaron Task and Daniel Gross.

Apple Takes a Bite Out of Retail as Stores Turn 10 - Yahoo! Finance