Apple's Black Friday Deal
NEW YORK (TheStreet) -- So many retailers count on Black Friday and the holiday shopping season. Hence the tendency to "leak" Black Friday deals to entice shoppers into their stores. Not Apple (AAPL) though.
Apple is running a Black Friday sales event on Nov. 23, but the details have not been leaked, in keeping with Apple's tightly-lipped modus operandi.
Apple doesn't want to be perceived as the typical Black Friday sales event, says NBG Productions chief equities analyst Brian Sozzi in a phone interview. "It's Apple's way of saying we're still a premium experience. Let some of the other retailers drive a lot of volume, we're still a destination." Sozzi is also a contributor to Real Money, a sister site of TheStreet.
The other retailers are undoubtedly envious of Apple, and perhaps take note of what the technology giant is doing. Apple stores generate more sales per square foot than any retail store in the world, including Tiffany & Co. (TIF) . According to research firm Retail Sails, Apple generates $6,050 per square foot in sales, with Tiffany's generating $3,017 per square foot.
Apple has also bucked Black Friday tradition by not having its stores open at midnight, as is custom with so many retailers. In the past, Apple stores in malls opened up at midnight, as the malls require. This year, Apple is taking a different approach, with none of their mall-based stores opening early, according to technology blog 9to5Mac.
Aside from its Black Friday offering, Apple appears to be taking the retail experience one step further. Apple launched a refurbished store on eBay (EBAY) , selling refurbished items such as iPads, MacBooks, and iPods.
Once again, it looks like Apple is innovating where so many others cannot.
Interested in more on Apple? See TheStreet Ratings' report card for this stock.
--Written by Chris Ciaccia in New York
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