Victoria’s Secret
Following the closure of 250 stores across the United States and Canada last year, Victoria’s Secret is expected to close more stores in the next two years. Victoria’s Secret CEO Stuart Burgdoerfer publicly addressed the expected closings during an earnings call with investors in May 2020. According to USA Today, he said, “We will anticipate a meaningful amount of incremental store closures outside the 250 that we’re pursuing this year, suggesting there will be more in 2021 and perhaps a little more in 2022.”
Victoria’s Secret
Gap
Gap intends to significantly reduce its physical footprint over 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 store closures are part of the retailer’s plan to focus on city centers and stores rather than malls.
Gap
