Teavana To Close Fair Oaks Mall Store By Spring 2018

FAIRFAX, VA—Do you enjoy getting Teavana samples when you go to the mall? That will be no more next year. Starbucks announced it will close all 379 Teavana stores, including the one at Fair Oaks Mall, Business Insider reported.

The company expects to close all stores by spring 2018. The stores are mostly in malls, which have suffered from less foot traffic, Starbucks Chief Financial Officer Scott Harlan Maw told investors. He said Teavana stores have been seeing "operating losses for some time," according to Business Insider.

Starbucks told Business Insider in a statement that the 3,300 affected Teavana employees will "receive opportunities to apply for positions at Starbucks stores." (For more information on this and other neighborhood stories, subscribe to Patch to receive daily newsletters and breaking news alerts.)

The company is not the only to suffer from a retail slump this year. Fortune reports that 2017 is on pace to have a record amount of bankruptcies. Clothing retailer True Religion filed for bankruptcy earlier in July. Brands such as The Limited, Hhgregg and Wet Seal have already closed all of their stores.

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