Victoria's Secret plans to close dozens of stores in 2019, including some in Canada.
L Brands reported mixed results for its crucial fourth quarter amid falling sales at its embattled Victoria's Secret division.
A Victoria's Secret spokesperson didn't return Advance request for comment about whether its store in the Staten Island Mall, New Springville is on its hit list.
Burgdoerfer said the company expects the store closures and other factors, including recent leadership changes and an upcoming website relaunch, to improve the performance of the company's lingerie brands in the coming year. Analysts had expected sales of $4.88 billion, Total sales at Victoria's Secret were $2.531 billion, down from $2.668 billion a year ago.
L Brands' chief market officer, Ed Razek, sparked a backlash late previous year when he rejected the idea of using plus-size or transgender models, a position he later apologized for.
JCPenney's 2018 fourth quarter net sales fell 9.5 percent from 2017, dropping from $4.05 billion to $3.67 billion, according to the release.
The number of planned store closures is a significant increase over recent years.
This came to a head in November, after a Vogue interview with Ed Razek, chief marketing officer of Victoria's Secret parent company L Brands, went viral online.
"It's a 42-minute entertainment special".
"The most important thing, in our view, is the merchandise", he said.
The 2018 Victoria's Secret Fashion Show television ratings had an audience of 3.27 million viewers - the smallest since becoming a holiday season TV event in 2001. We do not know exactly which stores will be closing, but we will update this post as more information becomes available.
The results beat the company's own forecasts for the quarter, which it had revised downward midway through 2018.