Starbucks to Close Down All Teavana Stores


Starbucks announced today that they will be closing down all its Teavana stores. The company said it will close all 379 Teavana locations over the coming year, with the majority closing by Spring 2018, including its 54 locations in Canada.

The company concluded that despite efforts to reverse the trend through creative merchandising and new store designs, the underperformance was likely to continue,” Starbucks said in a press release. “The approximately 3,300 partners impacted by these closures will receive opportunities to apply for positions at Starbucks stores, as Starbucks remains on track to create 240,000 new jobs globally and 68,000 in the U.S. over the next five years.”

The announcement came as Starbucks said global sales rose four per cent at established locations for the quarter ended July 2.

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