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Things are not looking too good for popular underwear and lingerie retail store Victoria’s Secret. The retail store may be in trouble! It is being reported that VS is set to close 53 of their stores this year due to low holiday sales.
If you’re a fan of the retail store, you’d know that the store always have great sales during the holidays. Looks like this year, that sale wasn’t good enough to keep these locations open. Reportedly, the company has lost close to 3.8 million customers over the last 2 years. They lost those customers to competitor companies such as Amazon and American Eagle.
Things may be a little challenging for the store to get back on track, due to upcoming competitors such as Target, Wal-mart and LuLu- who all sell undergarment wear. Luckily for VS fans, the store still has 390 stores located through the United States.
Hopefully, things turn around in a good way for Victoria’s Secret.