Victoria’s Secret will Close About 50 Stores in the United States
Victoria’s Secret have been forced to close dozens of their stores.
In 2020, the company closed almost 250 points and this Wednesday, its parent company, the company L Brands, announced that in the course of this year they will close between 30 and 50 more stores in the United States.
However, L Brands plans to open 49 new Bath & Body Works stores on US soil and one more in Canada.
The final goodbye to the ‘angels’ of Victoria’s Secret
This is part of the strategy of the company that is closing its stores located in shopping centers, since the new ones will be “almost entirely outside the shopping centers,” the company indicated, “according to USA Today.
Ohio-based L Brands plans to convert the Victoria’s Secret brand into a separate business in the next six months.
The reality is that Victoria’s Secret sales have declined since the onset of COVID-19 .. The story with Bath & Body Works is different. Sales of soap, home fragrances, body care and hand sanitizers have boosted the company’s sales during the pandemic.
Still, in a statement, the company said that “we continue to closely assess all (Bath & Body Works) locations, especially the most vulnerable centers, for risk of closure.”
Other large retailers such as Macy’s, J.C. Penney and Bed Bath & Beyond also announced that they will close some of their stores during 2021.
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Victoria’s Secret will Close About 50 Stores in the United States - /10