Victoria’s Secret Closing 250 Stores; See Locations In Virginia. Netflix's chess drama 'The Queen's Gambit' has a refreshingly hopeful endgame. The news came this week after L Brands posted its quarterly earnings online. Investors are fans of the slimming plans: L Brands' shares are up 18% in Thursday trading. Follow me on Twitter @rachsandl or shoot me an email rsandler@forbes.com.

An earlier version of this story incorrectly identified the store at West Town Mall in Knoxville, Tennessee, as closing. However, the companies agreed to terminate the sale after L Brands was forced to impose furloughs and mass store closures in response to the coronavirus pandemic. Chief Financial Officer Stuart Burgdoerfer said in an earnings call Thursday that it was a "very significant decision" that is intended to "strengthen" Victoria's Secret.

Victoria's Secret has closed eight stores in Canada so far in 2020. All Rights Reserved, This is a BETA experience. The lingerie brand is closing stores across Florida, Ohio, Iowa, New York, Virginia, South Carolina, and Tennessee. While J.C. Penney plans to close about 240 stores, Pier 1 will close all locations. However, the companies agreed to terminate the sale after L Brands was forced to impose furloughs and mass store closures in response to the coronavirus pandemic.

L Brands previously had an agreement with private equity firm Sycamore Partners to take the retailer private, but the firm decided to pull out of the agreement in early May citing temporary store closures sparked by the coronavirus pandemic.

I’m a San Francisco-based reporter covering breaking news at Forbes. However, the companies agreed to terminate the sale after L Brands was forced to impose furloughs and mass store closures in response to the coronavirus pandemic. It also plans to close 13 of its 38 stores in Canada. Victoria's Secret plans to close 53 stores in North America this year. Virginia also has three PINK stores (at Dulles Town Center, Tysons Corner and Valley View Mall) and dozens of Bath & Body Works stores. In a call with analysts, Interim Victoria’s Secret CEO Stuart Burgdoerfer said the closings will occur over the next several months. All rights reserved. This article originally appeared on the Bolingbrook Patch, Bath & Body Works Just Dropped Its Coziest 3-Wick Holiday Candles, Pennsylvania judge permits campaign observers up-close view of ballot count after Trump complaint, Election 2020: Live coverage, updates and results, British student reveals most ‘confusing’ things about going to college in America: ‘No one understands’, Take This 'Hot Or Not' Quiz & We Know Your State, Trump calls for disenfranchising American voters, but his tweets are toothless, Judge rejects moving trial of ex-officers in Floyd's death out of Minneapolis, Libertarian candidate Jo Jorgensen pulls some votes from Biden and Trump, calls election a 'wake-up call', 9 Best Foods and Drinks to Have Before Bed, ESPN announces 300 layoffs, citing 'disruption' amid virus, This Mark Wahlberg Movie Just Became the #2 Film on Netflix—and It Looks Intense, Single foster dad adopts 5 siblings to keep them together: 'I had already experienced it myself', Elon's New Yacht Looks Straight Out Of The Future, Kabul reeling after gunmen attack Afghan university, killing 35, Fox's Arizona Call for Biden Flipped the Mood at Trump Headquarters, Fed holds rates at zero amid 'considerable risks,' as economy 'continued to recover', Ranking the Best Minor League Baseball Ballparks, Eric Trump Busted For Fake Video Of Someone 'Burning 80 Trump Ballots', Why the polls were wrong about Trump (again), Protests erupt as election count continues, Do This To Easily Light Up Your Dark Stairs, Jennifer Garner Says Matthew McConaughey Used a Secret Sign to Help Her Breastfeed on Set, While We Wait for Election Results from the Remaining States, Twitter Copes with Memes. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Last week, Pier 1 Imports and J.C. Penney both announced the companies would file for bankruptcy. Factset: FactSet Research Systems Inc.2018. Stores closing in 2020: 250.

A spokesperson said it has plans to close up to two more locations in the country. In February, L Brands was prepared to sell a majority stake of Victoria’s Secret to Sycamore Partners, a deal that would have spun off the Victoria's Secret brand — made up of Victoria's Secret Lingerie, Victoria's Secret Beauty, and PINK — into a separate, standalone company. report in February painted an unflattering picture of executives promoting misogyny inside the company. Also slated for closure are 50 Bath & Body Works locations. The biggest stories in fast food, shopping, and more. BOLINGBROOK, IL — Victoria’s Secret will permanently close about 250 stores in the United States and Canada by the end of this year, parent company L Brands announced this week.