Victoria's Secret to close about 250 stores in the US and Canada; Bath & Body Works to close 50
Victoria’s Secret plans to permanently close approximately 250 stores in the U.S. and Canada in 2020, its parent company L Brands announced Wednesday.
L Brands also plans to permanently close 50 Bath & Body Works stores in the U.S. and one in Canada, according to information the company posted online as part of its quarterly earnings. L Brands will discuss its earnings with analysts Thursday morning.
L Brands' total company sales declined 37% in the quarter that ended May 2. Almost all of the company’s stores have been closed since March 17 due to the COVID-19 pandemic.
The news comes a day after Pier 1 Imports announced plans to shutter all its remaining stores and two days after J.C. Penney unveiled it will close 242 stores as part of its bankruptcy.
https://www.msn.com/en-us/money/companies/victoria-s-secret-to-close-about-250-stores-in-the-us-and-canada-bath-body-works-to-close-50/ar-BB14nQAq?ocid=NL_ENUS_D1_20200521_12_2
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