{"id":1004304614,"date":"2019-03-01T05:07:23","date_gmt":"2019-03-01T13:07:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004304614"},"modified":"2019-03-01T08:08:14","modified_gmt":"2019-03-01T16:08:14","slug":"victorias-secret-store-closings-add-to-weak-malls-woes","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/victorias-secret-store-closings-add-to-weak-malls-woes\/","title":{"rendered":"Victoria\u2019s Secret Closings Add to Weak Malls’ Woes"},"content":{"rendered":"
\"\"<\/a>

A Victoria’s Secret retail store<\/p><\/div>\n

After another national brand announced the closure of dozens of stores nationwide, struggling, vulnerable malls<\/a> once again braced for another hit.<\/p>\n

L Brands Inc., the parent company of Victoria\u2019s Secret, announced in an investors\u2019 return call yesterday that the lingerie chain would be closing 53 stores in North America, after a disappointing fourth quarter in 2018. Following the announcement, stock prices of L Brands Inc. plummeted 8.9 percent, reported Bloomberg<\/em>.<\/p>\n

With the store closures, Victoria\u2019s Secret will lose about 3 percent of its square footage in North America. The company has been struggling for a while\u2014last August, the company announced they were planning to close 20 stores in 2018, after a dip in sales put pressure on the brand.<\/p>\n

The day after the Victoria\u2019s Secret announcement, J.C. Penney announced in a fourth quarter and fiscal 2018 earnings report Feb. 28 that it will close 18 underperforming stores, as well as nine home and furniture stores.<\/p>\n

Both announcements come on the heels of a year that saw Sears file for bankruptcy<\/a>, Toys \u201cR\u201d Us close nearly all of its 800 stores after filing for bankruptcy in 2017 and Payless ShoeSource announcing its bankruptcy filing last week.<\/p>\n

Bouncing back<\/strong><\/h2>\n

However, despite the dark clouds, some of the suffering brands are being revived while others are posting positive numbers.<\/p>\n

Earlier this month, Sears was pulled out of bankruptcy and avoided liquidation after its chairman Eddie Lampert purchased the company for more than $5.2 billion, which will keep about 400 stores open and about 45,000 Sears workers employed.<\/p>\n

Just this week, a report from Econoday\u2019s Redbook found that same-store sales at U.S. retailers grew by 5.2 percent year-over-year for the week ending Feb. 23. The report pointed to a retail sales momentum that is continuing, but the pace is slowing down: the number is down significantly from a recent peak of 9.3 percent growth for the week ending Dec. 29.<\/p>\n

Image via Flickr Creative Commons user Mikofox<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The lingerie giant is tightening the purse strings, with plans to shutter 53 stores in North America, on the heels of other recent bankruptcy and store closing announcements.<\/p>\n","protected":false},"author":745,"featured_media":1004304617,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,23891,21742,21749],"tags":[43523,35193,44312,38719,44453],"class_list":["post-1004304614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-national","category-latest","category-retail","tag-dbrs","tag-jc-penney","tag-payless-shoesource","tag-sears","tag-victorias-secret"],"acf":[],"yoast_head":"\nVictoria\u2019s Secret Closings Add to Weak Malls' Woes - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/victorias-secret-store-closings-add-to-weak-malls-woes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Victoria\u2019s Secret Closings Add to Weak Malls' Woes\" \/>\n<meta property=\"og:description\" content=\"The lingerie giant is tightening the purse strings, with plans to shutter 53 stores in North America, on the heels of other recent bankruptcy and store closing announcements.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/victorias-secret-store-closings-add-to-weak-malls-woes\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-01T13:07:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-01T16:08:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/46955870061_bb51714449_k-e1551394310907.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1822\" \/>\n\t<meta property=\"og:image:height\" content=\"1367\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/victorias-secret-store-closings-add-to-weak-malls-woes\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/victorias-secret-store-closings-add-to-weak-malls-woes\/\",\"name\":\"Victoria\u2019s Secret Closings Add to Weak Malls' Woes - 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