Apple’s New Big Plans

Apple (NASDAQ:AAPL) plans to open between 30 and 35 new retail stores by September next year in keeping with its past growth targets and in order to make an international push. The company’s laid out its plans in a filing made with the U.S. Securities and Exchange Commission.

Apple opened 33 new brick-and-mortar stores this year, of which 28 were outside the U.S. That brought the total number of Apple Stores globally to 390, with 250 in the U.S. and 140 outside. Of the new stores planned during fiscal year 2013, about three-quarters will be located outside the U.S. as the company tries to balance out its presence around the world. The company planned to spend about $850 million on the expansion as well as on investment into its current infrastructure.

Our 20-page proprietary analysis of Apple’s stock is ready. Click here and to get your Cheat Sheet report now!

Apple added that net sales for its retail unit increased $4.7 billion this year, a 33 percent increase from the year-ago period. However, the year-over-year growth in retail was slow compared to that in its other company businesses, as it contributed only 12 percent to total net sales against the 13 percent from 2011. However, as Apple Insider pointed out, per store performance was higher year-to-year as each individual location brought in average revenues of $51.5 million compared to $43.3 million in 2011.

“The growth in net sales during 2012 was driven primarily by increased demand for iPhone following the launches of iPhone 4S and iPhone 5, strong demand for the new iPad and iPad 2, and higher Mac net sales,” Apple said in the filing.

Apple is also looking for a new retail chief after the company announced that John Browett, who only took over the position in April, would leave. The unit will report directly to chief executive Tim Cook in the interim.

Shares of Apple (NASDAQ:AAPL) finished Thursday at $596.54.

Don’t Miss: Can Apple Get Its Groove Back?