However, another major retail chain is shutting down Many stores in North America this year. Victoria announced the secret Bloomberg 53 stores in North America are planning to be closed because of the decline in sales and shop performances this year. On February 27, the note was published by L Brands Inc., according to the owner of the lingerie store Bloomberg.
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This important move to close different locations comes after VS stores They have been underperforming and sales have dropped. L Brands Inc. has said that nowadays, investments are turning back in a well-known lingerie chain throughout North America, Bloomberg reports
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L Brands Inc. Quarterly Profit Report Victoria's Secret website on its website, and reveals that lingerie companies reduce their profits and reduce stock prices. Some also say that companies start to fall Style Magazine. The company's profits throughout the year were disappointing, according to Business Insider.
The report has shown the sales of US and Canadian VS stores In the last quarter of 2018, it was $ 2,838,300 dollars for $ 1,849,300, compared to the same period of the previous year.
"Due to the decline in the performance of Victoria's Secret, The capital investment of this business has returned to our history, "the company said in a statement. Bloomberg.
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Secret Victoria's number of closing stores for 2019 There is more than three times the annual average. In recent years, the brand has been closed by around 15 stores per year Bloomberg. For example, in 2018, they closed about 20 shops, Business Insider reports
According to Ren BloombergVictoria's secret The fight has gone as a retail trader of the past and is not necessarily a secret. Sales have not been sold, but it has also been the brand's reputation.
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More recently, many people have been closing their chains for various reasons For example, do not have differences and show more women of different bodies and shapes, Style Magazine reports
2018 Victoria's Secret Fashion show also had a record low audience number The show was 3.27 million viewers, which is the minimum number since its inception W Magazine.
In January 2017, 4.98 million people gathered to see the show. Not only that, but the show was often criticized, especially the controversial comments made by the CMO Ed Razek, commented why they did not include the trans or plus-size show, W Magazine reports
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However, it's not bad news. Although continuous sales are continuing to decrease, online establishments have seen sales growth at 8% in the last quarter, Bloomberg reports In addition, the brand brings swimwear to line stores this spring, which is why it's very much like it.
Victoria's Secret is not the closest store to any of the stores Canada this year. Several strings have failed or failed recently. For example, both Payless Shoes and Home Outfitters announced last week that they closed all stores in Canada. Country shoes also closed all Canadian stores in January last month.
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You can see the fourth quarter full and year-round profits According to report 2018, L Brands Inc. today released its website.