Three VictoriaB次元官网网址檚 Secret stores in Canada are expected to close this year as parent company L Brands looks to improve on its financial performance.
A spokesperson for the U.S.-based lingerie brandB次元官网网址檚 parent company declined to tell The Canadian Press which locations will be shuttered in Canada, but says they are part of a plan to slash 53 stores worldwide.
READ MORE:
The impending closures are far more than the 15 stores the brand closes on average every year.
L BrandsB次元官网网址檚 chief financial officer Stuart Burgdoerfer said in an earnings call Thursday that the impending closures were triggered by VictoriaB次元官网网址檚 Secret B次元官网网址渘ot meeting our expectations.B次元官网网址�
Burgdoerfer says the business made the decision by analyzing current and projected performance, sales, profits, cash flows and trade dynamics.
The closures come after a tough holiday period, where comparable and in-store sales slid at VictoriaB次元官网网址檚 Secret and Pink stores.
The Canadian Press
Like us on and follow us on
