Victoria’s Secret Is Closing More Than 50 Stores In The U.S.
Secret's out, Victoria! The lingerie store may not be in the Cedar Valley much longer.
The company announced today that they'll be shutting down 53 of their stores throughout the U.S., citing falling sales numbers. According to KWQC, during the fourth quarter sales "fell 35 percent during that time and was down 45 percent for the 2018 fiscal year."
Victoria's Secret has not announced which specific locations will be shutting down; that means the stores inside College Square Mall & Crossroads Mall may be safe. Only time will tell, but overall, this isn't a good sign. It's not the first time Victoria's Secret has had to close some of their locations. Last year alone, they shut down 29 stores in the U.S. (and one in Canada).
This could mean some decent sales coming down the pike though, so we should probably keep an eye out!