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

Slocan Valley to be ‘lit up’ with high-speed internet in 12 months

125 kilometres of fibre-optic cable to be laid from Nakusp to Playmore Junction

LETTERS: In support of student climate strikers

From readers Tia Leschke and Sharon Inkpen

Kootenay Musical Theatre Society ready to make a deal with the Devil

The new group will put on an original show in October at the Capitol Theatre

Nelson councillor starts national municipal climate group

Climate Leadership Caucus has 57 members including seven mayors

RDCK to purchase portion of lands around Cottonwood Lake

21.6 hectares will be purchased for $450,000

Protective human chain forms around Victoria mosque for Friday prayer

Islanders stand arm-in-arm to show support in aftermath of New Zealand shootings

‘Families torn apart:’ Truck driver in fatal Broncos crash gets 8-year sentence

Judge Inez Cardinal told court in Melfort, Sask., that Sidhu’s remorse and guilty plea were mitigating factors

Boy who went missing from park remains largest probe in Victoria police history

The four-year old Victoria boy went missing without a trace on March 24, 1991

WestJet sticking with Boeing 737 Max once planes certified to fly

WestJet had expected to add two more of the planes this year to increase its fleet to 13

B.C. driver caught going 207 km/h on motorcycle along Okanagan Highway

A motorcyclist was caught by Kelowna RCMP going 207 km/h on Highway 97C

Protective human chain forms around B.C. mosque for Friday prayer

Vancouver Islanders stand arm-in-arm to show support in aftermath of New Zealand shootings

B.C. fire department offers tips to keep your home safe during wildfire season

With wildfire season getting closer, the Penticton Fire Dept. offer tips to keep your home safe

Rural Kootenay communities to receive high-speed internet upgrade

The provincial government is increasing internet connectivity to rural British Columbia

Fierce house cat spotted as ‘aggressor’ in face off with coyote in B.C. backyard

North Vancouver resident Norm Lee captures orange cat versus coyote in backyard showdown

Most Read