Victoria's dozens of Secret stores, including some of Canada, are assigned as shutdowns L Mark looks like a low financial performance in the lingerie chain.
The forecast published in the fourth quarter results of L Marches, executed operations in Victoria's North American Securities operations dropped 35% quarter-on-quarter and dropped 45% in 2018, as sales rose while sales rose.
"We're closing more places … The overall result of the Secret business in Victoria is not meeting our expectations," said L Brands Head, Stuart Burgdoerfer, analysts Thursday, adding that the company usually closes an average of 15 stores closed.
The closure activity doubled in 2018, with the company hiding in the 29 United States Secret Stores in the United States and with its brand Pink's Canadian location, for teens and young women.
There are more rooms available this year, L Brands said that 53 stores in North America this year should close this year. This number includes the 50 Victoria Secret locations in the United States and three in Canada.
The company has not publicly specified which retail stores will be closed. Burgdoerfer said closure decisions were made based on factors, including current and projected earnings, cash flows and local market factors.
In addition to the addition to the sketch, L Brands has "made a significant investment in capital in Victoria's Secret stores.
"We have not fulfilled our expectations with overall performance, and we are carefully focused on improving results," said Burgdoerfer.
La Senza, owned by L Marks, last month until it was sold to Regent's private company, sold a Canadian store in the last year to leave 118 locations in the country.
With the disappearance of the "Brands of Intimate Clothing" brand L, Bath & Body Works's twelve percent sales growth was partially offset, largely due to the company's portfolio. Burgdoerfer had a great deal of involvement with White Barn's candles and in existing stores.
The battery and body worked in Canada in 2018 when it opened another company, and this year expects another to open in Canada. That would leave 103 stores from 103 countries in the chain.
The overall results of the Brands, in the fourth quarter, including the Christmas holiday period, were almost flat compared to the previous year. Net sales amounted to $ 4.85 million and net income fell 595 million.
The results exceeded the forecasts of the company in the quarter, which has declined until 2018.
Burgdoerfer said the company also has a close and other factors in the store, the latest leadership changes and the renewal of the next website, to improve the company's lingerie brand the following year. Victoria Secret will place "a dominant view of customer and commerce" so that it can turn its business.
"The most important thing, in our opinion, is merchandise," he said.
"If merchandise is unique, it is unique, it reflects fashion, has innovations … there are many possibilities."
The negative reaction to Wall Street profits appeared on Thursday, L Brands's shares were eight percent lower at 10:30 am on Wednesday than closing.