Victoria’s Secret has plans to permanently close over 200 of its retail stores in the United States and Canada. The parent company L Brands also announced that they will also close 50 Bath And Body Works Stores.

Victoria’s Secret Pink Cheekster Panty Set of 3 Medium Black Foil Date/Blk Orchid Begonia/Black Date

The reason for the closures is a combination of declining sales and COVID-19 pandemic. L Brands saw over a 35% decline in sales in the second quarter of 2020. The coronavirus pandemic also has closed the doors to their retail location since March 17, 2020.

I actually like this approach by L Brands, they are making the necessary adjustments to the reality of the new normal due to this global pandemic.

 

 

 

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