Skip to content
Subscriber Only
Business

Victoria’s Secret to Shut a Quarter of North America Stores

  • Announcement is more ill news for shopping center operators
  • L Brands shares rise on performance at Bath & Body Works
A Victoria's Secret store.

A Victoria's Secret store.

Photographer: Nina Westervelt/Bloomberg
By

Updated on

Victoria’s Secret is closing almost a quarter of its North American stores network, another blow for U.S. malls already reeling from the pandemic lockdown as the lingerie chain grapples with changing consumer tastes and financial challenges.

Parent company L Brands Inc. said in its earnings report that it will close 251 stores by the end of this year, accounting for about 23% of its domestic locations.