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
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
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.