Victoria’s Secret closing 250 stores across U.S. and Canada

National

COLUMBUS (WCMH) – L Brands has announced that 250 Victoria’s Secret stores in the United States and Canada will close.  

The company made the announcement Wednesday in their first-quarter fiscal report.  

CNBC reported that Victoria’s Secret saw a 46% loss in sales in the first fiscal quarter that ended May 2. 

Earlier this month, Columbus-based L Brands terminated the sale of Victoria’s Secret to Sycamore Partner after the firm filed a lawsuit in April to get out of the deal. 

In addition, L Brands announced it is continuing steps to spin off the Victoria’s Secret brand as its own company. 

The deal to sell the Victoria’s Secret brand was reached in February before the coronavirus forced the company’s stores to temporarily shut down. 

OTHER STORIES FROM WFRV LOCAL 5

Local Weather | Local News
Digital Exclusives | Critic at Large/Local Theater
Positively Wisconsin|Midwest Farm Weekly
Download the free WFRV apps here

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss

More Don't Miss

Coronavirus News

More Coronavirus

Trending Stories

Your Local Election HQ

More Election

Local Sports

Incoming Badgers' lineman Bortolini prepares for next step

Thumbnail for the video titled "Incoming Badgers' lineman Bortolini prepares for next step"

"The Driveway" basketball training facility pushes through pandemic

Thumbnail for the video titled ""The Driveway" basketball training facility pushes through pandemic"

Timber Rattlers Erickson talks shortened spring, hopes for a season

Thumbnail for the video titled "Timber Rattlers Erickson talks shortened spring, hopes for a season"

WIR's "Test and Tune" fills drag strip

Thumbnail for the video titled "WIR's "Test and Tune" fills drag strip"

Former UW-Green Bay standout begins coaching career at St. Norbert

Thumbnail for the video titled "Former UW-Green Bay standout begins coaching career at St. Norbert"

Bay Port junior reacts to extended recruiting lockdown

Thumbnail for the video titled "Bay Port junior reacts to extended recruiting lockdown"