Starbucks Closing Teavana 'Tea Bars' In NYC, Beverly HillsStarbucks is retreating from Teavana "tea bars" that first opened in New York City a little more than two years ago and mimicked the coffee chain's namesake stores, except with tea.
Oprah Gives Starbucks Tea A Celebrity Shot A drink called the Oprah Chai will be sold at Starbucks cafes starting April 29. The drink will also be available at the small chain of Teavana tea shops Starbucks recently bought.
Starbucks Expands Buyback Plans by 25M Shares Starbucks says it may repurchase up to 25 million additional shares of its common stock. The plan reflects the Seattle based company's strong cash flow and commitment to return value to shareholders. The move comes a day after Starbucks announced the acquisition of Teavana, which sells loose leaf teas, for $620 million.
Starbucks Buying Teavana For $620MMSeattle-based Starbucks said Wednesday that it will pay $620 million in cash to buy Teavana Holdings Inc., which sells high-end loose leaf teas in 300 shopping mall locations. The plan is to expand Teavana's footprint beyond the mall with stand-alone shops, adding tea bars with specialty drinks.