One Upbeat Indicator: Apple Stores : Planet Money The world's largest Apple store opens Saturday in London, underscoring that cashstrapped consumers will still open their wallet for the right products.
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One Upbeat Indicator: Apple Stores

The site of the world's biggest Apple store Photo Giddy/Flickr hide caption

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Photo Giddy/Flickr

This weekend, the world's biggest Apple store will open in London's Covent Garden neighborhood.

At 30,100 feet, the store will have more iPhones than any other Apple store. It underscores that even in tough economic times, consumers are prepared to open their wallets for the right products.

London's existing flagship Apple store, about a mile away on Regent Street, is London's most profitable, with L2000 in sales per square foot. Apple executives say it is has more traffic than any other of its stores in the world, and it will stay open.

Even as they have cut back in some areas, consumers continue to spend on electronics. Previously, the US Commerce Department said sales of gadgets like computers and telephone equipment were up, while appliance and furniture sales fell.

Last month, Apple said its quarterly profit jumped 78%, bolstered by brisk sales of its iPad tablet computers and iPhones.