Apple Reports Record Earnings, Closes Three US Stores

Apple has announced the permanent closure of three retail locations in the United States, scheduled for June 2026. The decision affects stores at Towson Town Center in Maryland, the Shops at North County in California, and Trumbull Mall in Connecticut.

The closures come amid a broader shift in Apple’s retail strategy, as the company increasingly favors standalone locations and outdoor malls over traditional indoor shopping centers. According to Apple, the decision was driven by declining conditions at the specific malls and the departure of several other retailers from those environments.

Impact on Employees and Union Relations

The closure of the Towson Town Center location is particularly notable as it was the first Apple Store where unionized workers and the company reached a contract agreement in 2024.

Apple stated that team members at the Trumbull and North County locations will continue their roles at nearby Apple Retail stores. For the Towson location, Apple noted that employees will be eligible to apply for open roles in accordance with the collective bargaining agreement.

The International Association of Machinists and Aerospace Workers, the organization leading the union for Towson workers, has contested Apple’s framing of the situation.

Apple’s claim that the collective bargaining agreement prevents relocation is simply false and raises serious concerns that this closure is a cynical attempt to bust the union

International Association of Machinists and Aerospace Workers

The union stated it is exploring all legal options and intends to work with allies and elected officials to hold the company accountable.

Retail Strategy and Market Context

Permanent closures of Apple Stores are described as rare. Most temporary closures are typically for renovations, while permanent shutters have occurred only a handful of times, including a previous closure at Apple’s former headquarters at Infinite Loop in Cupertino.

Apple indicated that it continues to evaluate existing locations to ensure they meet customer needs while simultaneously investing in the expansion and enhancement of its global retail offerings.

Customers previously served by these locations are being directed to nearby stores, the Apple Store app, Apple.com, and Apple Authorized Resellers and Service Providers.

Financial Performance

These retail adjustments occur following a period of significant financial growth for the company. In a report dated October 30, 2025, Apple announced record results for its fiscal 2025 fourth quarter, which ended September 27, 2025.

The company posted quarterly revenue of $102.5 billion, representing an 8 percent increase year over year. This included record September quarter revenue for both the iPhone and the company as a whole, as well as an all-time revenue record for Services.

Diluted earnings per share for that period were $1.85, up 13 percent year over year on an adjusted basis. Total revenue for the fiscal year reached $416 billion.

CEO Tim Cook attributed the success of the September quarter to the launch of the iPhone 17 lineup—including the iPhone 17 Pro, Pro Max, and iPhone Air—alongside the AirPods Pro 3 and a new Apple Watch lineup. The company also introduced MacBook Pro and iPad Pro models featuring the M5 chip.

CFO Kevan Parekh noted that the company’s installed base of active devices reached a new all-time high across all geographic segments and product categories.