Victoria’s Secret
Victoria’s Secret is likely to shut more locations in the next two years, after the closure of 250 outlets in the United States and Canada last year. Victoria’s Secret CEO Stuart Burgdoerfer officially addressed the anticipated closings on an earnings call with investors in May 2020. According to USA Today, he said, “We will expect a significant number of additional store closures outside of the 250 that we’re targeting this year, implying that there will be more in 2021 and maybe a little more in 2022.”
Victoria’s Secret
Gap
Gap intends to decrease its physical presence during the next two years substantially. Gap Inc. announced in October 2020 that it would shut 220 Gap locations throughout North America by the end of 2023. The shop closures are part of the retailer’s strategy to shift away from malls and focus on city centers and stores.
Gap
