NEW YORK – Lingerie retailer Victoria’s Secret announced Thursday it plans to close 53 stores in North American in 2019. The company closed 30 stores last year to escape struggling malls.
The announcement comes amid declining sales in recent years, as the brand has struggled to adapt to changing consumer demands.
CNN Business reports Victoria’s Secret has failed to adapt to demand for more custom-fitted bras and inclusive messaging and advertisements. Start-ups like Third Love and Adore Me offer what customers feel are better fitting bras, and use everyday women in advertising, instead of models.
CNN also reports sales at stores open for more than a year fell 7 percent in the most recent quarter. The brand’s annual fashion show also saw its worst ratings ever in December.
So far there’s no list of which stores will close in the coming year.
Victoria’s Secret has three stores in Colorado Springs — at Chapel Hill, Briargate, and Citadel shopping centers, and one at Pueblo Mall.