A plan to shut down 251 Victoria’s Secret’s stores in North America this year has claimed at least three locations in Indianapolis.
Columbus, Ohio-based L Brands Inc. said the Victoria’s Secret store in downtown’s Circle Centre mall and the store at the Fashion Mall at Keystone have been permanently closed. Victoria’s Secret was an original tenant in Circle Centre when it opened in 1995.
In addition, the Victoria’s Secret store at Clay Terrace in Carmel, which was shut down at the beginning of the pandemic, will not reopen, retail sources told IBJ.
L Brands announced May 21 that it would close about a quarter of its Victoria’s Secret stores in North America by the end of the year. And more store closures could happen in the coming years, Victoria’s Secret interim CEO Stuart Burgdoerfer said on a call with analysts.
The closures leave the Indianapolis area with just three open Victoria’s Secret stores: at Castleton Square, Greenwood Park Mall and at the Shops at Perry Crossing in Plainfield.
The Victoria’s Secret at Hamilton Town Center in Noblesville has not reopened since closing for the pandemic and is listed as temporarily closed.
L Brands on May 20 reported a fiscal first-quarter loss of $296.9 million, after reporting a profit in the same period a year earlier.
The owner of Victoria’s Secret and Bath & Body Works had revenue of $1.65 billion in the period.
The company, which reports second quarter earnings Aug. 19, said it expects sales during the period to be down about 20% compared to last year, including an increase of roughly 10% at Bath & Body Works and a decline of about 40% at Victoria’s Secret.