Victoria’s Secret
Following the closure of 250 stores in the United States and Canada last year, Victoria’s Secret plans to close more stores in the next two years. Victoria’s Secret CEO Stuart Burgdoerfer revealed the anticipated closures during a May 2020 earnings call with investors. “We would expect a significant number of slow store closures outside of the 250 we’re aiming this year,” he said, “suggesting that there would be more in 2021 and possibly a little more in 2022.”
Victoria’s Secret
Gap
Gap intends to drastically reduce its physical presence over the next two years. Gap Inc. announced in October 2020 that it would close 220 Gap stores across North America by the end of 2023. The closures are part of a strategy by the retailer to focus on city centers and supermarkets instead of malls.
Gap