The Starbucks owned Teavana stores are closing! It was announced in Forbes Magazine online that Starbucks is pulling the plug on all 379 stores by the end of next year!
Even though some are still profitable, but may be considered underperforming in some instances. Starbucks hasn't found the correct fit it appears in wanting to extend out their business. Please be on the look out for clearance and reduced merchandise and products in the upcoming months!
Teavana, had many stand alone stores that are called tea bars.They also serve lite fair food. Before Starbucks bought the brand, they were a nice higher-end tea company that was slanted to small batch and sustainable tea. Starbucks did keep on most of their tea and included some others.
I think it is just another loss swallowed by a large major company with ton of money.
As time has passed a bit, Starbucks claims that it is their business plan and they are shuttering these stores because they have some that are not a successful as others? In other words, some of them are quite successful yet they will shut them because others are not? Again, why wouldn't you keep the profitable ones open then? I think the business plan might just not be successful! How about you? Diversification is great, but I think some business as you said just gobble up stuff!