Apple Retail Expansion Slows to a Crawl

Apple has slowed down its retail expansion with the last quarter seeing only one Apple Store opening, according to a FORTUNE report.

After opening more than 250 company-owned stores in eight years — an average of nearly 8 per quarter and a total of 46 in 2008 alone — Apple in the last quarter opened just one.

The building slowdown is one of several moves that Apple has made in response to what COO Tim Cook this week called a "horrendous economy."

The article also notes that Apple's SEC 10-Q filing indicates the company has slashed its retail employees from the equivalent of 15,600 full-time workers at the end of its December quarter to 14,000 in March.

Read More