Victoria's Secret closing 53 stores this year

A Victoria's Secret store in New

After reporting slumping sales during the holiday season and facing staunch competition from other lingerie retailers, Victoria's Secret has announced it will close 53 stores in the U.S.

Victoria's Secret plans to close 53 stores this year as more women desert the brand for lingerie startups and big retailers.

The company cites a decline in overall performance as the main reason for store closures.

The hard holiday period and planned store closures are the latest turmoil for the brand.

Retail analyst Edited noted last month that consumers' interests in lingerie are turning away from the overtly flirty silhouettes such as those that Victoria's Secret offers.

Victoria's Secret has not released a list of closing stores and did not immediately respond to a message seeking comment about the future of local stores.

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American Eagle reported a 32% increase in same-store sales at Aerie in the third quarter. Burgdoerfer credited the strong performance in part to White Barn candles into some new and existing stores.

The numbers say as much about what's been going on outside of Victoria's Secret as within it. This marked its 16th consecutive quarter of double-digit positive growth.

The company has not publicly identified which specific stores will be closing, but L Brands said the closing stores represent less than 5% of the total store count at this time.

"The most important thing, in our view, is the merchandise", he said.

L Brands (NYSE:LB) announced its latest quarterly earnings results after hours today, posting mixed results that saw its profit top the mark, while sales were below expectations, playing a role in LB stock's declining.

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