REAL ESTATE

Nordstrom Rack planned for Oklahoma City, San Francisco

BY Staff Writer

Seattle — Nordstrom announced plans to open two Nordstrom Rack locations, one in Oklahoma City, and the other in San Francisco.

Nordstrom Rack will open at Belle Isle Station in Oklahoma City. The approximately 34,000-sq.-ft. store, scheduled to open in fall 2013, and will be the retailer’s first location in the state.

In San Francisco, Nordstrom Rack signed a 45,496-sq.-ft. lease for a space at the 901 Market Street property, which owned by Hudson Pacific Properties.

Encompassing a portion of the ground floor and entire second floor, the new lease will furnish two stories of prominent retail space scheduled to commence with the opening of the store for business in spring 2014.

Nordstrom currently operates a full-line store in Westfield San Francisco center.

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OPERATIONS

Study finds ‘retail therapy’ still common

BY Alaric Dearment

San Francisco — More than half of Americans shop and spend money to improve their moods, according to a new survey.

The study, by Ebates.com, found that 63.9% of women engage in “retail therapy,” compared with 39.8% of men, and the belief that it improves moods was found among 39.2% of women, compared with 20.6% of men. The survey was conducted online by TNS Global and included 1,000 adults.

“Our survey confirms that shopping truly is ‘therapy’ for many people and can help raise one’s spirits after a bad day,” Ebates.com CEO Kevin Johnson said. “Online shopping makes this pick-me-up only a couple of clicks away.”

The survey also found that up to 80.7% of Americans feel best when shopping to lift their moods, and of them, 61.8% like shopping during a sale, while 49.4% like receiving rewards, 45% like free shipping and 44.6% like using coupons. A greater share of respondents found the retail therapy effects of online shopping better than shopping at brick-and-mortar stores, mostly because it’s more convenient.

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REAL ESTATE

Starbucks ramping up Southeast Asia growth with 200 stores in four years

BY Marianne Wilson

Seattle — Starbucks Coffee Company reaffirmed its commitment to accelerate growth in Southeast Asia, announcing plans to open 100 stores in Indonesia over the next three years and another 100 stores in the Philippines over the next four years.

Starbucks entered Southeast Asia in 1996 with its first store in Singapore. The company currently operates more than 700 stores across six countries, including Indonesia, Malaysia, the Philippines, Singapore, Thailand and, most recently, Vietnam.

“With a population of more than 600 million people, an emerging middle class that is driving strong consumption and a robust and resilient economy, Southeast Asia presents a compelling growth opportunity for Starbucks,” said Starbucks chairman and CEO Howard Schultz. “Never before have Starbucks prospects in this region been so exciting. As we ramp up our ambitious, yet disciplined, growth momentum across Southeast Asia, we will continue to build the Starbucks brand through the lens of humanity – supporting local coffee farmers and the neighborhoods we serve, while also investing in the growth and development of our partners.”

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