L Brands has been getting clobbered with the COVID-19 pandemic, primarily due to their reliance on in-store retail. In the near future, they will be closing 250 Victoria’s Secret locations in the USA and Canada.
Another L Brand, Bath & Body Works, will be closing about 50 stores too. They’ve fared better than Victoria’s Secret, primarily due to their online offerings (including hand sanitizers) and the fact that they aren’t reliant on sales like apparel.
The Victoria’s Secret closures amount to roughly 25% of their stores, while the Bath & Body Works closures will affect just about 3% of theirs. More info here.
250 Victoria’s Secret &/50 Bath & Body Works/STORES CLOSING!