Another hot area for the company is mobile payments, a product Schultz said is highly valuable both inside and outside of Starbucks. He said the opportunities of this product and category are currently being explored.
Finally, Schultz said that with some many exciting opportunities, from coffee and tea to juices, pastries and packaged goods, the Starbucks in the future will see a larger footprint that offers a lot more to its customers.
Executive Decision: Blake Nordstrom
For his second "Executive Decision" segment, Cramer also sat down with Blake Nordstrom, president of Nordstrom (JWN), the venerable retailer.
Nordstrom said his company has always been grounded in the customer and allows them to shop on their own terms, whether that's through a Nordstrom store, a Nordstrom Rack, via ecommerce or off-price location.Nordstrom has spent $2.2 billion over the past five years in capital expenditures, but that figure is expected to rise to $3.9 billion over the next five years with over $1.2 billion of that total earmarked for technology improvements and innovation. When asked about the elephant in the room, Amazon.com (AMZN), which is headquartered across the street from the Starbucks meeting, Nordstrom said Amazon offers customers what they want -- a great experience. Nordstrom hopes to do the same with a great Web site, a great supply chain and terrific personal service. Nordstrom continued that brick-and-mortar stores and malls aren't going away, but companies will need to execute in order to drive loyalty and give customers a reason to shop. Finally, when asked about the weather, Nordstrom admitted the company has never had so many stores closed as happened this winter. That business is lost, Nordstrom said, but the company hopes to make it up soon.
Executive Decision: Spencer Rascoff Continuing his "Executive Decision" segments, Cramer welcomed Spencer Rascoff, CEO of Zillow (Z), the online realty marketplace. Rascoff said that while mortgage rates are on the rise and are cooling the housing market somewhat, they're still at historic lows and there is still a backlog of buyer interest.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV