L Brands, the parent company of Victoria’s Secret stated on Wednesday that it plans to permanently close approximately 250 stores in the US and Canada in a commentary alongside its first-quarter earnings report.
“As part of our strategy to increase shareholder value, we remain committed to establishing Bath & Body Works as a pure-play public company, and we are taking the necessary steps to prepare the Victoria’s Secret Lingerie, Victoria’s Secret Beauty and PINK businesses to operate as a separate, standalone company,” the company said.
