Victoria’s Secret
Following the closure of 250 stores across the United States and Canada last year, Victoria’s Secret is set to close more stores in the next two years. Victoria’s Secret CEO Stuart Burgdoerfer publicly discussed the planned closings during an earnings call with investors in May 2020. “We would expect a meaningful amount of gradual store closures outside of the 250 that we’re targeting this year,” he told USA Today, “suggesting that there will be more in 2021 and maybe a little more in 2022.”
Victoria’s Secret
Gap
Gap intends to substantially reduce its physical presence over the next two years. Gap Inc. announced in October 2020 that it will close 220 Gap stores across North America by the end of 2023. The store closures are part of the retailer’s strategy to focus on city centers and supermarkets rather than malls.
Gap