Victoria’s Secret will close 53 stores as struggles mount

Victoria’s Secret will close 53 stores as struggles mount

A Victoria's Secret spokesperson didn't return Advance request for comment about whether its store in the Staten Island Mall, New Springville is on its hit list.

Additionally, the 2018 Victoria's Secret Fashion Show had the smallest audience since becoming a holiday-season TV event in 2001, with just 3.27 million viewers, the Nielsen company said.

Victoria's Secret has recently encountered criticism for its failure to adapt to consumer demand for more custom-fitted bras and inclusive advertising and messaging.

In 2018, the company closed 30 stores.

The company operates 2,943 company-owned specialty stores in the United States, Canada, the United Kingdom and China, and its brands are also sold in more than 650 franchised locations worldwide.

More news: Ontario Overhauls Health-Care System With New 'Super Agency'

Even more closures are planned for this year, with L Brands saying that 53 of their North American stores are expected to shut their doors this year. Burgdoerfer credited the strong performance in part to White Barn candles into some new and existing stores. This would leave the chain with a total of 103 stores in the country.

The hard holiday period and planned store closures are the latest turmoil for the brand.

The results beat the company's own forecasts for the quarter, which it had revised downward midway through 2018.

"The stores identified for closure either require significant capital, are minimally cash flow positive today relative to the company's overall consolidated average or represent a real estate monetization opportunity", JCPenney said in the release.

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