Will you return to a brick-and-mortar store once the lockdown is lifted? Better yet, could you afford to?
The retailpocalypse is intensifying in the post-Coronavirus economy. J. Crew, Neiman Marcus, and J.C. Penney have gone bankrupt. Others are shuttering their doors, including Victoria’s Secret.
The lingerie company announced on Thursday that it is closing 23 percent of its stores in North America.
L Brands, its parent company, confirmed in its earnings report that it will shut down 251 stores by the end of 2020. It also warned that additional store closures could happen in the next several years.
The company also said it is closing 51 Bath & Body Works stores.
Victoria’s Secret locations are slated to reopen by the end of July.
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