Starbucks announced yesterday that it will close all 379 of its Teavana stores over the course of the next year, with many of the underperforming units closing as early as next spring. Additionally, the company has announced that it will purchase the remaining 50 percent stake in its East China joint venture for $1.3 billion in cash. It also reported its Q2 financial results yesterday, pointing to an increase in US sss of 5%, driven by an average ticket increase of 4% and growth in transaction of +1. Earlier in the week, US sss at McDonalds was reported to be +3.9 for the quarter ended June 30. Company executives largely credited their cold drink and Signature premium sandwich promotions for the improvement in US stores.