July 31 2017

Starbucks to Close All Teavana Locations

By: BNEWS

Fans of Teavana, the Starbucks tea company that has a location in the Burlington Mall, should stock up on tea and accessories now.

 

Starbucks announced last week that it will close all 379 Teavana stores over the coming year.

 

“As reported on the Q2 call, many of the company’s principally mall-based Teavana retail stores have been persistently underperforming,” Starbucks said in a release. “Following a strategic review of the Teavana store business, the company concluded that despite efforts to reverse the trend through creative merchandising and new store designs, the underperformance was likely to continue. As a result, Starbucks will close all 379 Teavana stores over the coming year, with the majority closing by Spring 2018.”

 

Starbucks said there are approximately 3,300 employees at Teavana stores. The company said it will work with those employees to find them jobs at area Starbucks locations.


 

 
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