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Starbucks raises forecast on strong sales; opening 1,300 stores in 2013
Seattle -- Starbucks Coffee Co. reported a higher-than expected net income of $359 million for its fourth quarter, compared with $358.5 million in the year-ago period. The company also raised its earnings estimate for the next fiscal year.
Revenue rose 11% in the fourth quarter, to $3.36 billion. Same-store sales rose 6%, fueled by higher customer traffic.
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Nordstrom Rack to make Alabama debut in 2013
Seattle -- Nordstrom said it plans to open a Nordstrom Rack in Birmingham, Ala. This will be the retailer's first location in the state.
The approximately 35,000-sq. ft. store is scheduled to open in spring 2013 at River Ridge Shopping Center. The center is owned and operated by DDR Corp.