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Is Apple Ruining Growth At Upscale Shopping Malls? A Report Says Yes

Shoppers wait in line for the new iPhone 6S and iPhone 6S Plus at the Garden State Plaza in Paramus.
Shoppers wait in line for the new iPhone 6S and iPhone 6S Plus at the Garden State Plaza in Paramus. Photo Credit: Cecilia Levine

WHITE PLAINS, N.Y. -- Apple stores are often among the most trafficked in the mall, but does that translate to more sales in neighboring shops?

Not likely, and it might even hurt. Sandeep Mathrani, CEO of mall operator General Growth Properties, says Apple stores are actually slowing down the growth in some malls in the United States.

General Growth manages 97 American malls and on an earnings call Tuesday said they were critical of the tech companies place in those shopping centers. Malls owned by General Growth hold 46 of the 268 national Apple locations.

The basis of these claims and his report were that sales in every industry but electronics had been up. If you didn't count Apple, General Growth was up 4.5 percent in sales but if you count the tech giant they are down 3 percent.

It is notable that this report only pertains to a sample of the global Apple stores.

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