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

VIDEO: Inaugural township-wide garage sale rated a success

‘It went extremely well,’ said veteran garage sale participant

Taekwondo Festival draws hundreds to Langley Events Centre

Annual event a showcase of Korean martial art skills, culture and music

VIDEO: Bowen Byram named top prospect

Giants defenceman recognized as premier NHL draft pick

Langley golfer James Allenby takes Canada Life Open lead

Shot career-low round at Point Grey Golf & Country Club

REPLAY: The best videos from across B.C. this week

In case you missed it, here’s a look at the replay-worth highlights from this week in the province

Mistrial declared in Jamie Bacon murder plot trial

Bacon was on trial for counselling to commit the murder of Person X

B.C. VIEWS: Money-laundering melodrama made for TV

Public inquiry staged to point fingers before 2021 election

Canadian homebuyers escaping high housing costs by moving to secondary cities

In British Columbia, exurbs have grown in the Hope Valley and Kamloops

Feds lay out proposed new rules for voice, video recorders in locomotives

Transport Canada wants to limit use of recorders to if a crew’s actions led to a crash

Raptors beat Bucks 100-94 to advance to franchise’s first-ever NBA Finals

Leonard has 27 points, 17 boards to lead Toronto past Milwaukee

Third person charged in death of B.C. teen found in torched SUV

Inderdeep Kaur Deo facing charge of accessory after the fact to murder

Kamloops girl, 9, recovering from carbon monoxide poisoning now out of ICU

Her mother who was sleeping in the same tent with her did not survive

UPDATE: Surrey RCMP say boy, 11, missing for two days found safe

Dominic Mattie was last seen at 5 p.m. in the 13500-block of Gateway Drive in Surrey

Most Read