Victoria’s Secret to close 250 stores, Bath & Body Works will close 50, reports say
Read full article: Victoria’s Secret to close 250 stores, Bath & Body Works will close 50, reports sayThe company was forced to close stores on March 18 because of the coronavirus outbreak, causing sales to plunge by as much as 45%, the company said Thursday. Kohl's said earlier this week that sales fell 43% last quarter, while sales at L Brands, the parent company of Victoria's Secret and Bath & Body Works, dropped 37%. Macy's began reopening stores on May 4 -- just a couple days after its first fiscal quarter came to a close. Macy's is limiting the number of customers allowed inside stores that are reopening and installing social distancing signs and markers. The company says it’s working: “With two weeks of results from reopened stores, customer demand is moderately higher than we anticipated,” Gennette said.