The Secret Is Out! Victoria Secret Is Closing 53 Stores

Victoria's Secret isn’t a secret anymore as the popular retailer is closing 53 stores as women find other options for upcoming lingerie stores and bigger retailers.

According to CBS DFW, sales dropped to 7 percent during Victoria’s Secret’s most recent quarter per the parent company L. Brands.

The company released a statement on the closings

Given the decline in performance at Victoria’s Secret, we have substantially pulled back on capital investment in that business versus our history,” L Brands said in the earnings commentary.

Rivals like Amazon and American Eagle’s Aerie took 3.8 million customers  over the last 2 years per GlobalData Retail.

No word on if they would discontinue their annual fashion show or other marketing strategies.

There is no official word on which stores will be closing, but Victoria Secret has over 950 stores in the United States.