Victoria’s Secret Joins Gap & JCPenney, Closing Over 300 Stores
We finally know Victoria's Secret. She's losing money and closing up shop. And she's not alone. JCPenney and Gap will be shutting stores this year too.
The three major retailers announced hundreds of store closures, all on the same day, and all due to declining sales. Gap saw a 7% drop over the holidays. JCPenney fell 4% and Victoria's Secret lost 3%.
Gap - 230 stores in next two years
JCPenney - 27 stores this year
Victoria's Secret - 53 stores this year
The official list of store locations has not been released yet but we'll keep you posted if central New York retailers are affected.
The latest round of store closures brings the total to 4,500 shutting their doors this year, according to Business Insider, proving more and more people are shopping online.