Apple’s retail store sales growth

According to USA Today, the increase in sales at Apple retail stores has been huge. Such sales have increased 80% year-over-year. And this is the unbelievable part:

That increase accounted for one-fifth of all sales growth by publicly traded retailers in the U.S., according to a recent analysis of sales trends by retail sales expert David Berman. In part, that’s a reflection of poor sales among most retailers. But it also highlights how Steve Jobs’ technology giant is grabbing a big slice of market share in everything from smartphones to PCs.

Apple’s sales are “mind-boggling,” says Berman, whose quarterly DeeBee Index is closely watched by the retail industry. Berman’s New York hedge fund, Durban Capital, owns shares of Apple. “People don’t realize how much money has been diverted to Apple.”

Disclosure: I am long APPL.