Can't Spell Starbucks (SBUX) Without a 'Tea'
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Price: $63.36 -0.25%
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Revenue Growth %: +11.3%
Overall Analyst Rating:
BUY (
Up)Dividend Yield: 1.7%
Revenue Growth %: +11.3%
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Starbucks (Nasdaq: SBUX) is looking to get a little more green with its new venture.
That entendre is of course referring to the company's new tea shop venture (which will likely sell green tea as well as bringing in more "green" money). According to reports out Thursday, the Seattle, WA-based coffee giant is aiming to open up a new set of Tazo tea concepts.
News comes just weeks after Starbucks opened its first Evolution Fresh juice bar in Seattle and announced the $100 million acquisition of Bay Bread Group, owner of La Boulange bakery.
Aside from the 80 varieties of loose leaf tea Tazo will offer, the stores will also have baked goods, chocolates, and infused sugars and honey.
Being a $95 billion global market, Starbucks says tea represents a significant growth opportunity.
The news is bad for Teavana Holdings (NYSE: TEA), which is just on the cusp of celebrating its first-year anniversary as a public company. Teavana shares are indicated lower Thursday while shares of Starbucks are in positive territory.
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That entendre is of course referring to the company's new tea shop venture (which will likely sell green tea as well as bringing in more "green" money). According to reports out Thursday, the Seattle, WA-based coffee giant is aiming to open up a new set of Tazo tea concepts.
News comes just weeks after Starbucks opened its first Evolution Fresh juice bar in Seattle and announced the $100 million acquisition of Bay Bread Group, owner of La Boulange bakery.
Aside from the 80 varieties of loose leaf tea Tazo will offer, the stores will also have baked goods, chocolates, and infused sugars and honey.
Being a $95 billion global market, Starbucks says tea represents a significant growth opportunity.
The news is bad for Teavana Holdings (NYSE: TEA), which is just on the cusp of celebrating its first-year anniversary as a public company. Teavana shares are indicated lower Thursday while shares of Starbucks are in positive territory.
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