Parent to close Victoria’s Secret 250 stores ; restructure business

Parent to close Victoria’s Secret 250 stores ; restructure business

Victoria’s Secret is shutting stores by over 20% this year or ~250 locations in US & Canada. As part of its strategy, Bath & Body Works would be separated as a pure-play public company while Victoria’s Secret Lingerie, Victoria’s Secret Beauty & PINK would separated as a standalone company. Bath & Body Work’s direct sales grew by 85% in Q1 compared with a 15% decline for Victoria’s Secret.

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