Teavana Q3 Results Not Good
By: Leon Castles
on Wednesday, December 12, 2012
Atlanta based Teavana Holdings Inc has made an announcement that they have not been able to come up with better results in the third quarter of the year 2012. The company said that they have already announced that they are being acquired by Starbucks but the cost of recent deals has exceeded the stronger sales. Teavana said that they will be looking into their business strategies and make sure that they cover up the losses in the future. Last month Starbucks made an announcement that they are purchasing Teavana for $620 million with the hopes that they will do well in the tea business sector.
The company said that they also plan to take Teavana to international markets to ensure that they make the most out of the deals that they have. Teavana said that they have presence in more than 301 mall based stores and they will keep them in the future as well. The company said that soon after the market closed they had a loss of $1.4 million or 4 cents per share compared to net income profit of $936,000 or 2 cents per share in the previous months of the last year. Teavana said that they are focusing on how they can improve the business soon after the acquisition with the Starbucks is complete.