Retail

Starbucks Plans to Close Teavana Stores, 4 in Colorado

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Starbucks Corp. has  announced plans to close its 376 Teavana stores — four in Colorado — stating that they have been “persistently underperforming.”

Teavana — which sells loose-leaf tea and tea-related merchandise — has sores at the Cherry Creek, FlatIron Crossing and Park Meadows malls.

According to Forbes, the decision to close is almost immaterial given that these units represent only 3 percent of Starbucks US stores, and about 1.5 percent of the 25,000 Starbucks globally.

However, such a closing does demonstrate the need for mall-based stores to constantly reinvent themselves, to keep up with what millennial shoppers want.

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