Oh No! Victoria’s Secret Is Closing 53 Stores!
Oh No! Another Store Closing!
Victoria’s Secret will be closing 53 of their stores nationwide. L Brands, the parent company announced their plans to close about 53 Victoria’s Secret locations in North America this year, more than three times the 15 it’s historically closed in an average year. The closures will affect underachieving stores. They had closed 30 stores last year due to underperformance.
Victoria’s Secret has opened 820 stores, closed 673 stores and sold 130 stores over the past 10 years. The company has struggled due to shopping habits and more online shopping, and competitors have entered the lingerie, intimates and sleepwear market.
No list is available yet of the stores that will be closing. Once a list is available, we will update the post with the list.
Source: Business Insider