Victoria's Secret Is Closing Stores In Canada, And We Now Know How Many
Victoria's Secret is one of the most popular places in the world to buy underwear. The Montreal store on Sainte-Catherine sees a lot of traffic. The store has been so popular that it was part of the reason that LaSenza, the other lingerie store right next door, shut down.
However, the company has not seen enough growth in the last quarter. The owner, is looking to close the worst performing stores. Over 50 are being rounded up for closure in North America, including 3 in Canada.
TL;DR Victoria's Secret is closing stores all over North America, including 3 in Canada. We do not know exactly which stores will be closing, but we will update this post as more information becomes available.
The store announced that rising costs and plateauing sales mean that the brand was down by 45 percent for the 2018 fiscal year.
Though Victoria's Secret said that they normally close around 12 stores every year, last year they had to close 29 Victoria's Secret stores in the United States and one Pink location in Canada.
This year, the lingerie store announced that they will be closing over 50 stores, including three in Canada. There is no word yet on which stores will be closing, but we will update this post as more information becomes available.
L Brands has announced that they choose which stores to close based on a number of factors, including current and predicted performance along with local factors.
L Brands also owns LaSenza and Bath & Body Works.