November 13, 2009

By By Clare Baldwin, Reuters

Apple Inc said plans to open 40 to 50 retail stores next year as the consumer electronics giant expands its reach to customers.

More than half of the new stores will be outside the United States, with new outlets planned in London, Paris and two in Shanghai.

Speaking ahead of a store opening in New York, Ron Johnson, Apple's SVP of retail, said the company expects the holiday selling season to be a good one.

Apple now operates 280 stores in 10 countries.

The stores, first launched in 2001, have proved to be hugely popular with consumers. Apple hosted 45.9 million store visitors during the September quarter, up 7% from a year earlier.

The stores posted revenue of $1.87 billion in the quarter, their highest level ever and up 9% from a year earlier.

Shares of Cupertino, California-based Apple rose 52 cents to $203.77 in late-morning trade on the Nasdaq.

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