Victoria's Secret is permanently closing 250 stores in the US and Canada
New York Victoria's Secret is permanently closing a quarter of its stores in the United States and Canada over the next few months. It's another blow to the beleaguered retailer just weeks after its half-billion dollar plan to go private was scrapped.
L Brands , which owns the company, said the 250 store closures might just be the start: It warned it could close more stores over the next few years. There are approximately 1,100 Victoria's Secret locations in North America.Chief Financial Officer Stuart Burgdoerfer said in an earnings call Thursday that it was a"very significant decision" that is intended to"strengthen" Victoria's Secret.
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Victoria’s Secret To Close 250 U.S. And Canadian Stores As Sales Plummet Due To The CoronavirusI’m a San Francisco-based reporter covering breaking news at Forbes. I’ve previously reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter rachsandl or shoot me an email rsandlerforbes.com.
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