6,300 Stores Close As Consumers’ Buying Priorities Change

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251 stores of Victoria’s Secret

WWD

L Brands, Victoria’s Secret’s parent company has announced last May that they are permanently closing 251 branches all across the US and Canada in 2020. 238 closures will all be in the US. Since the quarterly earning review was done in May 2, L Brands’ total company sales, which includes Bath and Body Works had a decline of 37%, while almost all the company’s stores were closed in the lockdown from the 17th of March due to the coronavirus pandemic. Interim Victoria’s Secret CEO Stuart Burgdoerfer said that closures will be occurring in the next several months, and additional closings in the next year is expected.