With its sexy image falling out of favor and too many locations in sub-par malls, Victoria’s Secret is shuttering a total of 53 stores, after closing 30 last year, to help right-size its operations, L Brands executives said in prepared remarks ahead of their conference call on Wednesday.
That could help, in light of some observers’ belief that the brand’s footprint is too large. But, while executives on the conference call said that they are focused “on the customer and on the merchandise,” they didn’t say all that much about how they’re responding to their vulnerability in the market, according to UBS analysts.
