
Teavana, the retailer of loose teas and tea-brewing equipment that you see in malls everywhere, was recently acquired by Starbucks for $620 million -- and its last earnings report shows why the coffee chain did the deal: Teavana's net sales rose 38% in the last quarter. (Still, it posted a small loss for the quarter.)
There are currently 301 Teavana stores, but you can expect that number to grow fast as Starbucks puts Teavana stores in neighborhoods, as well as in malls.
* Starbucks read the tea leaves right on its Teavana deal
* Teavana's earnings report topped Wall Street's expectations
Let me know when I can use my discount at Teavana and then I will be excited about this.
Posted by: sneetch | December 17, 2012 at 03:00 PM
I ask every time I go to my local teavana when I'll get to use my discount. I heard around that we'd start carrying their teas? I got worried for Tazo for a minute, but the guys upstairs will do what's right by us.
My favourite is that the people who work at Teavana insist that it's a "partnership" and not a purchase. Heehee!
Posted by: Stone | December 18, 2012 at 05:10 AM