Starbucks' Teavana Fails to Thrive in Struggling Malls
Few people deal with driving to a mall just to get a pretzel from Auntie Anne's or a cookie from Mrs. Fields, but in a packed shopping plaza, those chains serve hungry people. But as chains like Sears Holdings close locations and consumers have fewer reasons to visit the mall, prospects for secondary stores like these become bleak.
This trend has been bad news for food courts and it has claimed another victim. Starbucks (NASDAQ: SBUX) has decided to close its mall-based Teavana stores. That's a not-too-surprising move from a chain that has struggled in launching non-coffee brands, having purchased and closed La Boulange, a bakery chain, and doing the same with its Evolution Fresh juice stores.
Starbucks is closing its mall-based Teavana chain. Image source: Getty Images.
Source: Fool.com
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