Tiffany & Co. Among Retailers Who Rake in the Most Money per Square Foot
Tiffany & Co. is leading the pack when it comes to brick-and-mortar jewelry sales, according to a new report by CoStar.
The iconic brand, which has been working hard to reinvent itself recently, enjoys sales of $2,951 per square foot worldwide.
In comparison, the number one retailer in sales per square foot in any category is Apple, which reportedly takes in $5,546 per square foot.
In apparel retail, Lululemon Athletica comes out on top. The yoga and fitness outfitter brings in $1,560 per square foot through 406 company-operated stores under the Lululemon and Ivivva brands.
And leading food-service retail, with sales of $3,970 per square foot, is the Reis & Irvy’s robotic frozen yogurt vending kiosk. Who knew?
But these supernovas are outliers in the physical retail sphere, where overall sales per square foot have declined an average of around $325 in recent years—down from nearly $375 in the early 2000s, according to the report.
The biggest disrupter of brick-and-mortar sales, according to the study’s author? You guessed it—Amazon.