According to The Times, the tech giant is negotiating with landlords in some of its 38 retail locations across the UK to get a 50% reduction in rent plus a rent-free period in exchange for signing longer leases. This is reportedly because the company wants to be treated like other businesses which have been offered reduced or temporarily-free rent in response to the coronavirus pandemic decimating their revenues.
The Times said these negotiations applied to retail spaces where Apple still has several years left on the leases, meaning landlords don't have to make an immediate decision.beating Wall Street's expectations with revenues of $59.7 billion — representing 11% year-on-year growth. This puts the firm in a much stronger position than most brick-and-mortar retailers, many of which have seen their sales nearly obliterated by the pandemic.
Per the Times, Apple posted UK sales of £1.4 billion for 2019, and paid £6.2 million in taxes to the UK. Apple declined to comment when contacted by the Times, and did not immediately respond to request for comment from Business Insider.LoadingBy clicking ‘Sign up’, you agree to receive marketing emails from Business Insider as well as other partner offers and accept our
If this is true, glad I ditched Apple a few years ago. Never going back.
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