Starbucks Corp. will close all 379 of its Teavana mall stores, including seven in Maryland, the coffee retail giant said Thursday.
Starbucks plans to close the specialty chain that sells teas, tea kettles and other tea-related products over the next year, with most locations closing by spring.
Teavana has Baltimore-area stores in Towson Town Center in Towson, Arundel Mills in Hanover, The Mall in Columbia and Annapolis Mall outside Annapolis. It also has stores at malls in Wheaton, Bowie and Bethesda.
Starbucks acquired Teavana Holdings Inc. in 2012 for $620 million.
During a conference call Thursday to announce Starbucks' third-quarter earnings, company officials said many of the mostly mall-based Teavana stores have been underperforming.
"Despite efforts to reverse the trend through creative merchandising and new store designs, the underperformance was likely to continue," the company said in an announcement.
The approximately 3,300 Teavana employees will be given opportunities to apply for jobs at Starbucks stores, the company said. The coffee retailer said it remains on track to create 240,000 new jobs globally and 69,000 in the U.S. over the next five years.