Starbucks to close all Teavana stores including 3 in Las Vegas
NEW YORK — Starbucks plans to shutter all its Teavana stores as it seeks to improve its financial performance.
The company says it will close all 379 Teavana locations over the coming year. It acquired the mall-based stores in 2012. Starbucks CEO Kevin Johnson noted declining foot traffic at malls.
Teavana operates three locations in the Las Vegas Valley, according to the company’s website.
They are located at:
- Downtown Summerlin, 1980 Festival Plaza Drive
- Fashion Show shopping center, 3200 S. Las Vegas Blvd.
- Town Square, 6643 S. Las Vegas Blvd. Suite B-124
A Teavana at the Grand Canal Shoppes shopping center inside The Venetian closed in March.
Summerlin resident Joseph Bancheri said he enjoyed the selection at his local store, even if the prices were high in his opinion.
He said his 13-year-old twin daughters will miss the free samples given outside.
“We are always up there,” he said. “They always want to stop by for some yummy goodness.”
Starbucks also reported global sales growth of 4 percent at established locations, fueled by higher average spending per visit. But the frequency of customer visits was flat from a year ago. Sales at established location in its Asia unit rose just 1 percent.
For the quarter, Starbucks Corp. earned $691.6 million, or 47 cents per share. Excluding one-time items, it earned 55 cents per share, in line with Wall Street expectations. Total revenue was $5.66 billion, less than the $5.76 billion expected.
