The Traderszone Network

Published in TZ Latest News 30 July, 2017 by The TZ Newswire Staff

Why Starbucks Is Closing All Its Teavana Stores

The death of the American shopping mall just took another victim. Starbucks (NASDAQ: SBUX) announced with its third-quarter earnings results that it will close all 379 Teavana locations over the next year. Starbucks bought Teavana in 2012 for $620 million, and modestly expanded its store count over the last five years. But as mall traffic falls and Starbucks struggles to live up to expectations for comparable-store sales, it’s cutting some of the fat.

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