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Apple Confirms Grand Central Store

12/05/2011 12:49:49 PM Eastern

New York - Apple will open its first retail store within
Manhattan's Grand Central Terminal this Friday at 10 a.m., the company
confirmed.

The store, located at 45 Grand Central Terminal, will be
Apple's fifth company-owned retail outlet in New York City. The store is
located on the east and northeast balconies overlooking the terminal's main
concourse.

The new store holds two Genius Bars, and a personal pick up
area where Apple shoppers can pick up purchases they make using the Apple Store
shopping app. The app also allows customers to scan and pay for their device
using their iPhone's EasyPay function.

Other services offered by the store include, a personal
setup room where customers can take their just purchased products and have them
configured before they leave the store. And there is a training area.

Apple opened 40 new stores during its 2011 fiscal year ended
Sept. 24, for a total of 245 U.S. and 112 overseas locations. Sales grew 44
percent, or $4.3 billion, during the 12-month-period, with average revenue per
store increasing 27 percent to $43.3 million.

The chain accounted for 13 percent of Apple's net revenue
during its 2011 fiscal year.

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