73ºF

Victoria's Secret closing more than 50 stores

Company owner will shut down underperforming stores following decline in sales

photo
(Getty Images)

Victoria's Secret will be saying goodbye to 53 stores across the United States and Canada after a difficult holiday season, according to NBC12

North American operations fell 35 percent during the fourth quarter and were down 45 percent for the 2018 fiscal year, according to officials with Victoria's Secret's parent company, L Brands. On Thursday, L Brands' stocks dropped nearly 7 percent. 

These aren't the only numbers falling for the lingerie company. The Victoria's Secret Fashion Show has lost more than half of its television audience in two years. In fact, the 2018 show had the smallest audience since 2001.