Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Victoria's Secret's parent company L Brands is about to shut more than 200 stores in malls and shopping centers across the country this year.
Victoria’s Secret is closing 250 stores in shopping centers, malls and other locations in the U.S. and Canada. Victoria’s Secret sales were even more dire, falling 46% to $821.5 million, while Bath & Body Works dropped 18%.In addition to the 250 Victoria’s Secret stores, L Brands is shuttering 50 Bath & Body Works locations.I’m a San Francisco-based reporter covering breaking news at Forbes. Victoria's Secret, Forever 21, GNC and others are among a number of retailers in the danger zone. Victoria's Secret is closing 53 more stores, its parent company L Brands announced this week.
J.C. Penney, which filed for bankruptcy last week, plans to close more than 240 stores, and Nordstrom around 16.
McDonald's store hit by coronavirus outbreak as 5 staff test positive for bugL Brands is also slated to close 50 Bath & Body Works stores in America and one in Canada, as per information the company posted online related to its quarterly earnings.The company went on to say they intended to have the bulk of their stores reopened by July.Their total sales declined 37 percent in the quarter that ended on May 2 after the majority of their stores shut from March 17 when coronavirus mitigation measures ramped up.The company previously tried to sell 55 percent of its shares to Sycamore Partners, a New York private equity firm, before coronavirus caused the deal to fall through.How Dani Dyer hid her baby bump for months with baggy tops and designer handbagsThe news comes after Pier 1 Imports confirmed it was closing its remaining stores and JC Penney said it would be closing 242 stores as part of its bankruptcy.“We would expect to have a meaningful number of additional store closures beyond the 250 that we're pursuing this year, meaning there will be more in 2021 and probably a bit more in 2022,” he said.Victoria’s Secret, which operates 1,091 stores in the US and Canada, said it will close 235 US Victoria’s Secret and three Pink stores along with 13 of its 38 Canadian shops.EastEnders' Maisie Smith parties days after being caught smoking a spliffJet2 cancels flights and holidays to Cyprus until August 17From March to April, records tumbled a whopping 16 percent as people stayed home and department stores shuttered.Harry and Meg 'face permanent exile from Royal Family' after bombshell book"[We are] taking the necessary steps to prepare the Victoria’s Secret Lingerie, Victoria’s Secret Beauty and PINK businesses to operate as a separate, standalone company," their statement read.News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services."We intend to thoughtfully open stores throughout the second quarter, taking steps to ensure the safety of our customers and associates, and adhering to government guidelines." It’s a large number that will likely put a lot of people out of work, but the lingerie giant is far from dead .