Victoria’s Secret
Victoria’s Secret expects to close more stores in the next two years as a result of the closure of 250 stores in the United States and Canada last year. Victoria’s Secret CEO Stuart Burgdoerfer spoke honestly about the company’s potential closures during a May 2020 earnings call with investors. According to USA Today, he stated, “We anticipate a considerable number of incremental store closures beyond the 250 that we estimate this year, meaning more in 2021 and maybe a bit more in 2022.”
Victoria’s Secret
Gap
Gap intends to dramatically cut its physical footprint during the next two years. Gap Inc. said in October 2020 that it would close 220 shops in North America by the end of 2023. The retailer’s goal is to focus on city centers and stores rather than malls, which is why the stores are closing.
Gap