Thursday, January 21, 2021

Apple franchise to open in Lincoln‘s Waterside

Technology retailer Apple is to gain a presence at Lincoln‘s Waterside Shopping Centre later this month as the electricals specialist‘s franchisee Stormfront opens at the retail hub in time for Christmas.

Specialist retail property company Capital & Regional, which purchased the centre from clients of PRUPIM in February this year, has secured the first Apple franchise for Lincoln.

Development is a prime focus for the centre, which also houses New Look, Primark and Topshop. The 7,800 sq ft Topshop store was recently re-fitted featuring the retailer‘s latest store design and the centre is one of the first sites in the UK to feature this.

Improving its strong reputation as an industry leader remains of great importance to Apple, which recently announced the launch of a 12-minute click & collect app which allows customers to pick up items purchased via their mobile 12 minutes later in-store.

2011 has been been a hugely successful year for the brand, though the death of Co-founder Steve Jobs in October brought great sadness from employees, directors and fans across the world.

Reporting on its financial results for the 12 weeks ending September 24th 2011, Apple announced total revenue of $28.27 billion (£17.9 billion) and net profits of $6.62 billion in its fourth quarter trading statement.

Revenues and profits were up $8 billion and $2.3 billion respectively, compared to the same period last year.

With the latest store set to open on December 17th 2011, Christmas shoppers keen to purchase the ever-popular iPad are likely to increase footfall in the centre.

Over the last quarter, the company sold 11.12 million iPads, a 166 per cent unit increase compared to 2010, while 17.07 million iPhones, representing 21 per cent unit growth compared to the same period last year, were also sold.

Andrew Haughey, Retail Asset Manager at Capital & Regional, welcomed the latest opening and said that the company will be making further announcements on future plans for the centre soon.

“The Apple brand is iconic and a major retail magnet wherever it trades. Stormfront is the premium UK franchisee and we are delighted to introduce it to Lincoln,” he commented.

“This letting, alongside a line of other new names which have recently taken space in the centre, demonstrates how we are successfully applying our retail management skills to reposition The Waterside Shopping Centre as the dominant fashion and lifestyle destination within Lincoln.”


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