Supermodels Candice Swanepoel, left, and Doutzen Kroes, help open the first Victoria’s Secret store in Calgary, Alta., Thursday, May 5, 2011. 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. (THE CANADIAN PRESS/Jeff McIntosh)

Victoria’s Secret to close three Canadian stores amid global reduction

Unclear which stores will close in Canada

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.

READ MORE: HBC shuttering Home Outfitters across Canada

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.”

Burgdoerfer says the business made the decision by analyzing current and projected performance, sales, profits, cash flows and trade dynamics.

The closures come after a tough holiday period, where comparable and in-store sales slid at Victoria’s Secret and Pink stores.

The Canadian Press

Like us on Facebook and follow us on Twitter

Just Posted

5-foot-long snake reported lost in Rutland

Buddy the snake is reported to be harmless and was reported missing May 22

Rockslide closes one southbound lane 2 km north of Summerland

DriveBC reported the slide just after 6:30 a.m.

Kelowna parents attend gang information session

Safer Schools Together trainers and former Hells Angel spoke to parents on May 22

RV trailer fire suppressed in West Kelowna late Thursday night

West Kelowna Fire Rescue aided BC Wildfire Services near Bear Creek Park

Okanagan-Shuswap weather: weekend rain

Environment Canada forecasts continuing bad weather for the start of the weekend

Baby geese out for a gander in Vernon

VIDEO: Families flock to the North Okanagan lakes and beaches

More than half of Canadians support ban on handguns, assault rifles: study

Divide between rural and urban respondents in latest Angus Reid Institute public opinion study

Last call for contestants in Teen Band Contest

Winners will play on stage at Penticton Peach Festival in August

Hope grows for Shuswap foodbanks thanks to modest volunteers

Secret garden donated 1,100 pounds of vegetables produced last year

Salmon Arm seeks to borrow $845,000 for Shuswap Regional Airport runway

Residents have until June 24 to voice opposition to bylaw

Spring rain needed as B.C. sees one of the lowest snowpack levels in 40 years

Snowpack levels in B.C. recorded on May 15 were similar to those in 2015 and 2016

Theresa May to quit as party leader June 7, sparking race for new PM

The new Conservative leader will become prime minister without the need for a general election

B.C. man who fell off cliff returns there to rescue eagle from vulture attack

Nanaimo’s James Farkas, who broke his hip in a fall, saves eagle on same beach months later

Raptors beat Bucks 105-99 to move within 1 game of NBA Finals

Leonard scores 35 as Toronto takes 3-2 series lead over Milwaukee

Most Read