Victoria's Secret to close 23% of its North American stores

  • Shoppers browse items displayed for sale inside the Victoria's Secret PINK store at the Cherry Creek Shopping Center in Denver, Colorado. The iconic women's fashion chain said it will close 251 stores in North America by the end of this year.

    Shoppers browse items displayed for sale inside the Victoria's Secret PINK store at the Cherry Creek Shopping Center in Denver, Colorado. The iconic women's fashion chain said it will close 251 stores in North America by the end of this year. Bloomberg file photo

 
By Jordyn Holman
Bloomberg
Updated 5/21/2020 12:26 PM

Victoria's Secret said it will close 251 stores in North America by the end of this year. That's roughly 23% of its store fleet.

More store closures could happen in the coming years, Victoria's Secret interim Chief Executive Officer Stuart Burgdoerfer said on a call with analysts on Thursday.

                                                                                                                                                                                                                       
 

Burgdoerfer also said that L Brands expects Victoria's Secret stores will reopen by the end of July. L Brands shares rose as much as 12% in New York trading.

Specific locations were not announced. Victoria's Secret has more than 20 stores in the suburbs, including Aurora, Algonquin, Bolingbrook, Lombard, Schaumburg, Oak Brook and Vernon Hills.

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