Victoria's Secret to close some Canadian stores
The chain is"not meeting our expectations," owners say.TORONTO — Three Victoria's Secret stores in Canada are expected to close this year as parent company L Brands looks to improve on its financial performance.
A spokesperson for the U.S.-based lingerie brand's parent company declined to tell The Canadian Press which locations will be shuttered in Canada, but says they are part of a plan to slash 53 stores worldwide.The impending closures are far more than the 15 stores the brand closes on average every year.
L Brands's chief financial officer Stuart Burgdoerfer said in an earnings call Thursday that the impending closures were triggered by Victoria's Secret"not meeting our expectations.''
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