Could Victoria’s Secret Be Next On the Chopping Block in Lubbock?
It looks like a number of mall-based retailers are headed for hard times.
First, I told you about JCPenney closing stores, and now it's Victoria's Secret.
According to Business Insider, the lingerie retailer is looking at closing 53 stores very soon.
From Business Insider:
Its parent company, L Brands, reported fourth-quarter earnings after the market close on Wednesday. Same-store sales of the Victoria's Secret brand were down 3% during the quarter and overall in 2018.
The brand has struggled in recent years and increasingly been accused of losing relevance among shoppers as its hypersexualized ads and racy runway shows have failed to resonate in the era of #MeToo.
As of now, no formal list has been complied of which stores will be shuttered. I reached out to the management of the locations in Lubbock and Midland/Odessa, and they referred me to their corporate offices, which had no comment.
So, as always, it is business as usual for now. And, of course, if we hear anything else, we will let you know.