Apple Reignites Retail Expansion

Apple’s chief operating officer Tim Cook outlined the company's plans for retail expansion as part of his presentation with investors at the Goldman Sachs Technology & Internet Conference in San Francisco this week.

The Apple coo offered insight into the computer retailer’s store strategy which in the past called for opening 25 to 50 stores per year, according to Computerworld.com. In 2008, however, the company started focusing on the lower end of that range when the economy soured.

Cook told investors that there’s an abundance of desirable locations now available and that the company plans to open up to 50 stores in 2010, including locations in Shanghai and London.

Last month, the Cupertino, Calif.-based company reported its best-ever quarterly performance with revenue of $15.68 billion and a net quarterly profit of $3.38 billion for fiscal 2010 first quarter ended December 26, 2009.