Starbucks has announced that it is to close its entire Teavana retail estate of 379 outlets across the US.
Many of the company’s principally shopping centre-based Teavana retail stores have been persistently underperforming.
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 the stores over the coming year, with the majority closing by Spring 2018.
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 US over the next five years.
Strabucks offers Teavana teas in UK coffee shops, introducing the brand last year in the summer, but the firm didn't launch Teavana outlets here. Options include Iced Shaken Mango Black Tea Lemonade and non-alcohol Blackberry Mojito.
The news came as the firm reported financial results for its 13-week fiscal third quarter and 39-week fiscal year to date ended July 2, 2017, showing global comparable store sales rose by 4%.