Teavana Holdings Inc. (TEA) Monday reported a third-quarter loss of $1.41 million or $0.04 per share, as opposed to a profit of $936 thousand or $0.02 per share in the prior-year quarter, weighed dowm by expenses.
On average, six analysts polled by Thomson Reuters expected a loss of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased 38 percent to $46.0 million from $33.4 million last year, while analysts expected revenues of $45.04 million.
Comparable store sales, including e-commerce, increased 0.4 percent.
The company opened 17 new stores during the quarter, and ended the quarter with 301 company-owned stores.
Looking ahead, the company provided no guidance on the account of its pending acquisition by Starbucks.
Georgia-based Teavana Holdings Inc., together with its subsidiaries, operates as a specialty retailer of loose-leaf teas, teawares, and other tea-related merchandise.
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