As Sales Sag And Droop, Victoria's Secret To Close 250 Stores

As Sales Sag And Droop, Victoria's Secret To Close 250 Stores

Victoria's Secret's parent company L Brands is permanently shuttering 250 stores in the US and Canada in 2020.

According to Business Insider, L Brands reported first-quarter earnings for 2020 after the market close on Wednesday.

Of 849 Victoria's Secrets stores in North America, most have remained closed since March after the coronavirus pandemic hit the US.

News of the closings come just weeks after L Brands confirmed that a deal to sell a majority stake in the company had fallen through.