According to The Sunday Times, Apple is pushing for huge rent reductions across its UK retail stores “despite its sales soaring to new heights during the lockdown.”
The tech giant has told landlords of a portion of its 38-store estate in the UK that it wants rents slashed by up to 50% and a rent-free period, the article adds. In return, it has offered to extend leases by a few years.
However, as AppleInsider notes, the request has caused some friction with land owners, however, as Apple’s latest quarterly results revealed an 11-percent revenue jump to US$59.7 billion. In July, filings in the United Kingdom revealed Apple earned $1.8 billion in revenue in annual sales, but the company only paid $8 million in tax.