February 28, 2019
February 28, 2019
(WSVN) – Victoria’s Secret’s parent company has announced that they will be closing dozens of stores across North America.
According to CNN, the lingerie retailer’s parent company, L Brands, announced that they would be closing as many as 53 stores this year.
Sales for Victoria’s Secret have fallen seven percent in the store’s most recent quarter as customers seek out lingerie start-ups and big retailers.
Victoria’s Secret has recently encountered criticism for its failure to adapt to consumer demand for more custom-fitted bras and inclusive advertising and messaging.
In November, the company’s CEO resigned, and in December, its annual fashion show saw the worst ratings ever.
In 2018, the company closed 30 stores.Copyright 2018 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.