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SEATTLE — Nordstrom plans to open another new Rack store this spring in Maine as the number of off price locations now exceeds the company’s full price stores.

The approximately 30,000-sq.-ft. store at Maine Crossing Shopping Center will be its first location in the state, and is scheduled to open this spring.

WATSONVILLE, Calif. — EVP and president of Nordstrom Direct Jamie Nordstrom has joined West Marine's board of directors. Nordstrom also was appointed as the fourth member of West Marine's governance and compensation committee.

His board and committee service is expected to begin on the first meeting scheduled in 2013, most likely in March, and Nordstrom, like all the other directors, will stand for re-election to the board at West Marine's 2013 annual meeting of stockholders.

Seattle -- Nordstrom announced plans to open a Nordstrom Rack in South Portland, Maine.

The approximately 30,000-sq.-ft. store is scheduled to open this spring at Maine Crossing Shopping Center and will be the retailer's first location in the state. It will occupy the former Old Navy space. 

SEATTLE -- Starbucks Coffee Company announced that it has completed its acquisition of Teavana Holdings has formally closed, making Teavana a wholly-owned subsidiary of Starbucks. Teavana has some 300 locations, primarily in 300 shopping malls across the nation.  

The acquisition is the the latest addition to Starbucks emerging brands portfolio, which also includes Evolution Fresh, La Boulange, Seattle’s Best Coffee and Tazo.

FRAMINGHAM, Mass. — The TJX Companies has acquired Sierra Trading Post, an off-price Internet retailer based in Cheyenne, Wyoming, for approximately $200 million in cash.

The purchase was financed from TJX’s existing cash balances.

BURLINGTON, Mass. — Pier 1 Imports could be in for powerful home sales this holiday season as a result of its investments in its omni-channel strategy.

The company recently revamped its website as well as its mobile commerce site with help from Demandware, a leading provider of e-commerce solutions.

Minneapolis -- Investment firm Joh. A. Benckiser Group agreed to acquire Caribou Coffee Co. for approximately $340 million.

Caribou will continue to be based in Minneapolis and operate under its own brand and management, the companies said in a statement. As of September 30, 2012, the company had 610 coffeehouses, including 202 franchised locations, in 22 states, the District of Columbia and 10 international markets.

Restoration Hardware doesn’t operate many stores, but it is enjoying tremendous momentum at the ones it does operate.

New York -- Star Avenue Capital announced that it has acquired a minority ownership position in It’Sugar, Deerfield Beach, Fla., a growing specialty candy and gift chain. Terms of the transaction were not disclosed.
Star Avenue is partnering with It’Sugar CEO and founder Jeff Rubin and existing investor Prentice Consumer Partners to provide the resources and strategic guidance to support the brand’s rapid expansion. The company currently has over 50 retail locations across 13 states and four international markets.

New York -- According to multiple reports on Thursday, Wal-Mart Stores Inc.'s India unit has received a notice from a federal government agency regarding alleged violations of the country’s foreign investment rules.
 
A spokesman for Wal-Mart said: “We will be working to provide the authorities with relevant information,” but didn’t elaborate on the contents of the notice.

Bharti Walmart Pvt. Ltd., a joint venture between Wal-Mart and India's Bharti Enterprises Ltd., operates 20 wholesale stores in the country.