Apple's outgoing chief financial officer Fred Anderson spoke to analysts on February 24 at the Goldman Sachs Technology Investment Symposium.
Discussing Apple's retail initiative, Anderson stressed the company is aiming to open "somewhere around 80 stores by September". He said the stores are creating "significant growth" for the company.
Anderson added that Apple has developed a retail model that can "reliably predict sales in a potential location".
"We don't plan opening any stores that we don't believe will break-even within the first year." He said Apple is "very pleased" with the $9 million profit its retail segment saw in the Christmas quarter, reports ifo AppleStore.
The company's retail experience was never about branding, Anderson said, but rather about driving sales and profits.
Apple also revealed plans to change the in-store Genius Bars in order to increase its focus on business sales. The stores will begin to offer on-site and also guaranteed next-day repairs.
The presentation is available as an audio webcast.