He said the closings would occur over the next several months and additional closings were anticipated.L Brands' total company sales declined 37% in the quarter that ended May 2. Popular lingerie brand Victoria’s Secret announced Thursday it has been sold for $525 million to private company Sycamore Partners. After the pandemic struck, Sycamore went to court to back out of the deal and in early May, both parties called it off.The news comes a day after Pier 1 Imports announced plans to shutter all its remaining stores and two days after J.C. Penney unveiled it will close 242 stores as part of its bankruptcy.Interim Victoria’s Secret CEO Stuart Burgdoerfer said in a call with analysts Thursday to discuss L Brands quarterly earnings that the store closures were an appropriate decision and could strengthen the business. COLUMBUS, OH — Victoria’s Secret will permanently close about 250 stores in the United States and Canada by the end of this year, parent company L Brands announced this week. … Beverly Center, 8500 Beverly Blvd
"L Brands also plans to permanently close 50 Bath & Body Works stores in the U.S. and one in Canada, according to information the company posted online as part of its quarterly earnings.The company said it is working to reopen stores that have been closed because of the coronavirus.In February, L Brands announced a deal to sell 55% of Victoria’s Secret to Sycamore Partners, a New York private equity firm. It also plans to close 13 of its 38 stores in Canada. The news came this week after L Brands posted its quarterly earnings online.Victoria’s Secret and Bath & Body Works are the latest in a series of retail closures prompted by dwindling revenue amid the coronavirus pandemic.Like us on Facebook to see similar storiesIn February, L Brands was prepared to sell a majority stake of Victoria’s Secret to Sycamore Partners, a deal that would have spun off the Victoria's Secret brand — made up of Victoria's Secret Lingerie, Victoria's Secret Beauty, and PINK — into a separate, standalone company.Victoria’s Secret, a popular women’s lingerie retailer, has 1,091 stores in the United States and Canada.
Almost all of the company’s stores have been closed since March 17 due to the COVID-19 pandemic.“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,” Burgdoerfer said.Victoria’s Secret has 1,091 stores in the U.S. and Canada with 909 U.S. Victoria’s Secret stores and 144 Pink stores. While J.C. Penney plans to close about 240 stores, Pier 1 will close all locations. "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," L Brands said. It also plans to close 13 of its 38 stores in Canada.Statewide, Alabama has 13 Victoria's Secret locations.While the company has yet to name which stores it plans to close, the Birmingham metro has two Victoria’s Secret locations that could be on the list, at The Summit and Riverchase Galleria.Please give an overall site rating:The Birmingham metro also has nine Bath & Body Works stores:Last week, Pier 1 Imports and J.C. Penney both announced the companies would file for bankruptcy. Shop the Victoria's Secret clearance to find the best deals on bras, panties, lingerie, sleepwear, sportswear, beauty, PINK and more! … It also plans to close 13 of its 38 stores in Canada. Also slated for closure are 50 Bath & Body Works locations. Victoria’s Secret plans to permanently close approximately 250 stores in the U.S. and Canada in 2020, its parent company L Brands announced Wednesday. Victoria’s Secret plans to permanently close approximately 250 stores in the U.S. and Canada in 2020, its parent company L Brands announced Wednesday. While the company has yet to name which stores it plans to close, The LA area has Victoria’s Secret locations that could be on the list: Hollywood, 6801 Hollywood Blvd. L Brands has confirmed Les Wexner will step down as chairman and chief executive officer of the company after the closing of the sale of Victoria's Secret. L Brands said it will close 235 U.S. Victoria’s Secret and three Pink stores. Earlier this month, luxury department store Neiman Marcus filed for bankruptcy after furloughing 14,000 employees and temporarily closing its 43 stores.Victoria’s Secret reported net sales of $1.65 billion for the first quarter of 2020, compared with $2.6 billion for the same quarter last year. Victoria’s Secret, Bath & Body Works Closing Close To 300 Stores © Shutterstock Victoria’s Secret parent company L Brands said it plans to close … L Brands said it will close 235 U.S. Victoria’s Secret and three Pink stores.