Starbucks
The company announced on Thursday that all 379 Teavana stores are set to close in the coming year, with the majority shuttering by spring 2018.
According to Starbucks, the 3,300 employees impacted by the closures will "receive opportunities to apply for positions at Starbucks stores."
In April, the coffee giant announced it was "evaluating strategic options" for its struggling Teavana stores, the vast majority of which are located in malls across the US.
"Over the last several years many mall-based
While Starbucks has invested in new store designs and updated merchandising, Maw said that the rate of decline at mall-based Teavana stores over the last six months has been worse than forecast, and that the company expects further declines.