Victoria’s Secret Is Closing 20 Stores Around The Country
Oh no! This is sad news for the employees.
Victoria’s Secret is joining the ranks of stores like JCPenney, Sears and Toys R Us and closing 20 stores around the country.The announcement was made by Stuart Burgdoerfer, the CFO of the retailer’s parent company, L Brands, in a call with investors, according to Business Insider. Six Victoria’s Secret stores have already closed this year, while three more are slated to open. Victoria’s Secret has not announced the location of the 20 stores that will be closing.
The announcement comes as L Brands reported its second-quarter earnings, which showed that some same-store sales were down by 1 percent. The company also announced that Denise Landman, CEO of Victoria’s Secret PINK, will be retiring at the end of the year.
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