REAL ESTATE

Jo-Ann Fabrics opens at Austin Town Center

BY CSA STAFF

Austin, Minn. — Centro Properties Group said Tuesday that Jo-Ann Fabrics & Crafts has opened a 15,000-sq.-ft. store at Austin Town Center, in Austin, Minn.

Austin Town Center is owned by Centro Properties Group, based in New York City.

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REAL ESTATE

Starbucks’ growth plans include major international push

BY CSA STAFF

New York City — Starbucks Corp. is looking beyond its cafes for expansion in the future. Detailing its growth plans Wednesday at its investor conference, the chain announced it plans to triple the number of its cafes in China, offer more products in grocery stores and open new kinds of stores to build on its recent recovery.

“We are particularly pleased with the response we’re seeing from our Chinese customers, and expect to operate at least 1,500 Starbucks stores in Mainland China by 2015,” John Culver, president of Starbucks Coffee International.

Starbucks also plans to improve its U.S. retail operations by adding mobile payment options and improving the way it serves customers during peak hours. Addressing the “myth of U.S. saturation,” Cliff Burrows, president of Starbucks Coffee U.S., said that while the company will not add stores in the United States at the pace it once did, it will seek out new locations in targeted neighborhoods to capture significant retail growth opportunities.

Starbucks executives said they will keep considering acquisitions — big and small — that could help the company develop more products to sell through other retailers.

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FINANCE

Pier I sales up 10.2% in November

BY CSA STAFF

Fort Worth, Texas — Pier 1 Imports said on Thursday that its same-store sales rose 10.2% for the quarter ended Nov. 27, a little better than it had expected when it made a prediction last month.

Third-quarter total revenue rose 8.3% to $354 million.

President and CEO Alex W. Smith said strong results in September and October carried into November and the Thanksgiving weekend. Pier 1 stores got more visitors who spent more money, compared with the same period last year, Smith said.

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