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.