Victoria’s Secret To Close A Quarter Of Its Stores

VICTORIA'S SECRET TO CLOSE A QUARTER OF ITS STORES

(CNN) – Victoria’s Secret will permanently close 251 of its stores in the U.S.

Parent company l-brands made the announcement on Wednesday.

Victoria’s Secret currently has just over a thousand locations in the U.S. and Canada.

L. brands also plans to close 51 of its Bath and Body Works stores.

The closures will take place over the next several months.

Almost all of Victoria’s Secret and Bath and Body Works locations have been closed since March 17th due to the coronavirus pandemic.

Total company sales fell 37% in the quarter that ended May 2nd.

Categories: Business