Starbucks to close Teavana stores; two Jacksonville stores included

Starbucks announced Thursday that the company will close all 379 Teavana stores nationwide.

In a news release, the company cites poor performance and an inability to reverse the trend.

Jacksonville has a location in the St. Johns Town Center and The Avenues.

The majority of the stores will close by Spring 2018 and all employees will be given opportunities to apply at other Starbucks stores.

Starbucks had acquired the mall-based chain in late 2012, with then-CEO Howard Schultz noting the huge potential for the tea market.

Then this past April, the company said it was reviewing its options for the struggling chain. On Thursday, Starbucks CEO Kevin Johnson noted declining foot traffic at malls.

"We felt it was an appropriate time to take the decision and begin shutting down those stores," he said.

The announcement came as Starbucks said global sales rose 4 percent at established locations for the quarter ended July 2, fueled by higher average spending per visit.

But the frequency of customer visits was flat from a year ago.

Cox Media Group