Victoria’s Secret To Close Another 53 Stores This Year
L Brands Inc., the owner of Victoria Secret, announced plans to close 53 stores in North America this year.
Slumping 'in store' sales is causing the parent company to take quick action by closing 53 North American Victoria Secret stores. Bloomberg says that's more than triple they're average closure of 15 stores per year.
Some of the blame for the lack of foot traffic into a Victoria Secret store is the lack of diverse styles for women of different body shapes and types. Even Victoria's Secret Fashion TV show had the lowest number of viewers ever! W Magazine reports the show was also met with criticism after CMO Ed Razek made controversial comments about why they don't include trans or plus-size models in the show, W Magazine reports.
The company did not identify which stores it would close. We'll keep you posted.