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

UPDATE: West Kelowna fawn euthanized, not claimed by sanctuary

Gilbert the deer has been euthanized after a suitable home was not found in time

Iconic rock photographer Bob Gruen to exhibit work in Kelowna

Gruen’s portfolio includes John Lennon, Bob Dylan, Led Zeppelin, David Bowie, among many others.

Kelowna car thief’s sentencing delayed

Stanley Nickason pleaded guilty car theft charges in B.C. Supreme Court

Alleged impaired driver flips car near Lake Country

The incident happened early Friday morning

July showers wash out half of the Okanagan’s cherry supply

Cherry growers say this is the worst season they’ve seen in decades

Body, burning truck found near northern B.C. town

RCMP unsure if the two separate discoveries are related

Survivorship Dragon Boat Team wins in Vernon

Team takes top spot in A division at festival

Couple found dead along northern B.C. highway in double homicide

Woman from the U.S. and man from Australia found dead near Liard Hot Springs

RDOS contributes funds to arts centre workshop

South Okanagan Performing Arts Centre Society wants input into proposed facility

World-famous sopranos to hold concert in Okanagan

Two Canadian sopranos are bringing their world-famous voices to the Okanagan for one night only

Summerland Fall Fair to include zucchini race

Event is in honour of bobsleigh athlete Justin Kripps

BC Wildfire Service warns wet weather no reason to be complacent

Fire risk currently low for much of B.C. compared to same time over last two years.

Bank of Canada lowers qualifying rate used in mortgage stress tests

Home sales softened last year after the federal government introduced new stress test rules for uninsured mortgages

Most Read