Supermodels Candice Swanepoel, left, and Doutzen Kroes, help open the first Victoria’s Secret store in Calgary, Alta., Thursday, May 5, 2011. Three Victoria’s Secret stores in Canada are expected to close this year as parent company L Brands looks to improve on its financial performance. (THE CANADIAN PRESS/Jeff McIntosh)

Victoria’s Secret to close three Canadian stores amid global reduction

Unclear which stores will close in Canada

Three Victoria’s Secret stores in Canada are expected to close this year as parent company L Brands looks to improve on its financial performance.

A spokesperson for the U.S.-based lingerie brand’s parent company declined to tell The Canadian Press which locations will be shuttered in Canada, but says they are part of a plan to slash 53 stores worldwide.

READ MORE: HBC shuttering Home Outfitters across Canada

The impending closures are far more than the 15 stores the brand closes on average every year.

L Brands’s chief financial officer Stuart Burgdoerfer said in an earnings call Thursday that the impending closures were triggered by Victoria’s Secret “not meeting our expectations.”

Burgdoerfer says the business made the decision by analyzing current and projected performance, sales, profits, cash flows and trade dynamics.

The closures come after a tough holiday period, where comparable and in-store sales slid at Victoria’s Secret and Pink stores.

The Canadian Press

Like us on Facebook and follow us on Twitter

Just Posted

Family-friendly heron tours planned at Chilliwack’s nature reserve

Stretch your legs as you watch the herons return to their colony, March 22 and 23

Local recognized for devoting a half-century of fighting fires

Provincial, federal governements honour the 50 years Fred Robinson spent as volunteer firefighter

Hope fire fighters consistently amongst top Stair Climb fundraisers

Hope fire fighters raised more than $4,500 this year

Celebrate Transit Driver Appreciation Day with BC Transit on Mar. 18

Say a little ‘thank you’ to the people who help you get where you need to be safely, like Sherry Lane

Hope Search and Rescue worried about looming expiry date for government funding

The province’s 80 SAR groups have been sharing $15 million in grants from previous government

VIDEO: RCMP ask kids to help name soon-to-be police dogs

13 German shepherd puppies will be born this year

Horvat scores 16 seconds into OT as Canucks beat Blackhawks 3-2

Pettersson sets rookie scoring record for Vancouver

No injuries, pollution in Vancouver Harbour ship collision: Transport Canada

Transportation Safety Board says it has deployed a team of investigators look into the incident

Budget 2019: Five things to watch for in the Liberals’ final fiscal blueprint

Finance Minister Bill Morneau will release the Trudeau government’s final budget on Tuesday

New concussion guidelines launched for Canada’s Olympians, Paralympians

The guidelines will be in effect at this summer’s Pan American, Parapan American Games in Lima, Peru

Accused Surrey transit cop shooter’s bail hearing set for April

Daon Gordon Glasgow, 35, is accused of shooting Transit Police Constable Josh Harms, 27

Alphonso Davies doubtful for Canada game against French Guiana in Vancouver

Canada will be without injured captain Scott Arfield and veteran Will Johnson

Watchdog called after man who yelled racial slurs at B.C. vigil hurt during arrest

BC RCMP say man was ‘acting suspiciously’ at prayer vigil for victims of New Zealand mosque shootings

Most Read