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

Brain injury from domestic abuse a ‘public health crisis,’ says B.C. researcher

Nearly 80% of the domestic violence victims who reported to police last year were woman

More childcare spaces coming for Kelowna families

The provincial government stated that additional funding will create 68 more spaces in the Okanagan

Rockets grab win over reigning league champs in first game of road trip

Kelowna beat the Prince Albert Raiders 2-1 Friday night, take on Saskatoon Saturday

GoFundMe started for Kelowna family who lost pet, home in Rutland fire

A fire tore through a Rutland four-plex in the morning on Dec. 6

Winter Blues Festival returns to Lake Country

Harpdog Brown and the Uptown Blues Band headline the 2020 show on Jan. 25

VIDEO: SNL skewers Trudeau’s mockery of Trump in high school cafeteria sketch

The three world leaders won’t let Trump sit at the cool kids’ table

Summerland college operated from 1906 to 1915

Ritchie Hall and Morton Hall were constructed for Okanagan Baptist College

Campbell River mom’s iPhone containing priceless photos stolen from Victoria hospital parkade

The phone contained photos, heartbeat recordings of her late son

Miller nets winner as Canucks edge Sabres 6-5 in OT

Roussel, Leivo tally two apiece for Vancouver

‘Norovirus-like’ outbreak interrupts Bantam hockey showcase in Greater Victoria

Several athletes were sent home, quarantined on the ferry

South Okanagan volunteer dental clinic donates rotten teeth to good cause

H.E.C.K. recently gifted 47 rotten teeth to a search and rescue group in the area

$578: that’s how much your first distracted driving ticket will cost with recent premium hikes

Over 50 per cent of Canadians admitted to using phone while driving last year, according to study

Healing with honesty: Justice served 40 years later

Revelstoke senior gets house arrest for sexually assaulting stepdaughter

WorkSafe BC to investigate explosion at Princeton facility

Explosion at Envirogreen waste reclamation plant occurred Nov. 27

Most Read