An Apple customer a day sure is keeping Grand Central retailers in good financial health.
Shops in the teeming transit hub have seen an iBoost in their bottom line ever since the world’s biggest Apple Store opened there late last year, averaging a 7.5 percent hike in profits, MTA officials said yesterday.
“I’ve yet to hear a negative [about Apple’s presence],” said Nancy Marshall, Grand Central Terminal’s development director. “The tenants couldn’t be happier.”
The sizable hike in profits was recorded from December 2011 — the month the Apple Store opened — through March over the same time period 12 months earlier.
“It’s definitely bringing in more people, especially tourists,” said Carlo Meneghin, manager at Grande Harvest Wines.
“Tourists tend to buy electronics, and a lot of them stop here afterwards.”
Cindy Stayton, manager of Forever Silver, said it’s obvious the increase foot traffic in her store comes from Apple.
“A lot of times, the customers already have their Apple products in hand when they walk into the store,” said Stayton, whose store is just under Apple. “It has definitely helped sales.”
The Apple Store’s bustling consumer presence is also helping the constantly cash-strapped MTA.
The agency took a gamble offering Apple a generous lease term, with rents lower than some of its neighbors’.
And unlike many retailers in Grand Central, Apple is under no obligation to share any of its earnings with the MTA.
But because other stores in the hub are earning higher profits, the agency is expected to command higher rents from future tenants, officials said.