Victoria’s Secret closes two Indianapolis locations


The locations were closed as part of a previously announced plan to permanently shutter about 250 Victoria’s Secret stores this year in the United States and Canada.

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The beauty and lingerie brand has experienced declining sales for years, and most of its stores were closed on March 17 due to the novel coronavirus pandemic.’

Ohio-based L Brands’says Victoria’s Secret saw a 40% decline’in net sales during the second quarter.’

The Victoria’s Secret locations at Castleton Square Mall and’Greenwood Park Mall have reopened and are’open to shoppers.

From mall owner to store owner:Here’s why observers say Simon Property Group is bailing out bankrupt retail chains

Publisher: The Indianapolis Star
Author: Alexandria Burris
Reference: Visit Source (Read Article)

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Muncie Mall continues to lose stores after reopening

MUNCIE, Ind.’ Muncie Mall’s survival has been in question since the departure of Carson’s and Macy’s. Once JCPenney closes, the shopping center will be without an anchor store.

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“New management means new ideas, new vision and a new start for Muncie, and I guarantee you brighter days are ahead,” Mayor Dan Ridenour said’when the mall’s ownership shifted in May.

Publisher: The Star Press
Author: Charlotte Stefanski
Reference: Visit Source (Read Article)

Victoria’s Secret is closing a quarter of its stores

Victoria’s Secret is permanently closing a quarter of its stores in the United States and Canada over the next few months. It’s another blow to the beleaguered retailer just weeks after its half-billion dollar plan to go private was scrapped.

L Brands, which owns the company, said the 250 store closures might just be the start: It warned it could close more stores over the next few years. There are approximately 1,100 Victoria’s Secret locations in North America.

Chief Financial Officer Stuart Burgdoerfer said in an earnings call Thursday that it was a “very significant decision” that is intended to “strengthen” Victoria’s Secret. L Brands previously had an agreement with private equity firm Sycamore Partners to take the retailer private, but the firm decided to pull out of the agreement in early May citing temporary store closures sparked by the coronavirus pandemic.

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Publisher: WTHI News
Twitter: @publisher_handle
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Publisher: www.nytimes.com
Date: 2020-07-25T12:00:10.000Z
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Stores closing include Frye Company and Lord & Taylor in 2020 – Business Insider

Retailers are expected to close more than 6,000 stores this year, following record-high rates of closings last year.

More than 9,300 store closings were announced in the US in 2019, smashing the previous record of roughly 8,000 store closures in 2017, according to an analysis by Business Insider.

The number of store closings this year could be even higher than previous records, according to estimates from the real estate firm Cushman & Wakefield. The firm estimated last year ‘ prior to the coronavirus pandemic ‘ that as many as 12,000 major chain stores could close in 2020.’


Publisher: Business Insider
Date: 2020-08-06
Author: Hayley Peterson
Twitter: @BI_RetailNews
Reference: Visit Source (Read Article)

Coronavirus closings in Evansville: What is shutting down, modifying hours

EVANSVILLE, Ind. ‘ Several businesses in the Evansville area have closed or’modified their hours in response to the spread of the coronavirus.

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Kohl’s announced Thursday it would be closing stores nationwide through April 1. Employees will be given two calendar weeks of pay. Online shopping is still available through the store’s website and mobile app with direct shipping to your home.

Publisher: Evansville Courier & Press
Author: Brook Endale
Reference: Visit Source (Read Article)

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