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.”
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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.