Victoria’s Secret
Following the closure of 250 stores in the United States and Canada last year, Victoria’s Secret plans to liquidate more outlets in the next two years. Victoria’s Secret CEO Stuart Burgdoerfer confirmed the projected closures during a May 2020 earnings call with investors. “We would expect a large number of slow store closures outside of the 250 we’re aiming for this year,” he said, “suggesting that there would be more in 2021 and probably a little more in 2022.”
Victoria’s Secret
Gap
Gap intends to dramatically reduce its physical presence during 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
