"They're opening lots of them around the country now," said Terry McEwen,president of Memphis-based Poag & McEwen Lifestyle Centers, which willhave a 6,200-square-foot Apple store in the lifestyle center it plans toopen in Littleton, Colo. in November. Poag is developing the 60-storelifestyle center, called Aspen Grove, with Cleveland-based DevelopersDiversified Realty Corp. Executives of one large New York City area mallsay they are also close to signing a deal with Apple.
Executives at Cupertino, Calif.-based Apple did not respond to requestsfor information. This marks a new strategy for Apple, which has beenplagued by huge inventory backlogs and lost more than $245 million inthe last quarter.
Apple has hired executives from several prominent retailers, includingGeorge W. Blankenship, formerly vice president of real estate for Gap,and Ron Johnson, formerly merchandising director at Target, to executethe plan. In May, 1999, Gap Inc.'s president and CEO, Millard Drexler,joined Apple's board of directors.