Victoria's Secret owner plans store closures in U.S., Canada

A Victoria's Secret store in New

A Victoria's Secret store in New

CNN reports sales at stores open at least a year fell 7 percent during the most recent quarter. Victoria's Secret same-store sales have fallen for the past three years.

L Brands' overall results for its fourth quarter, which includes the Christmas holiday period, were virtually flat as compared to one year earlier.

A spokesperson for the US -based lingerie brand's parent company declined to tell The Canadian Press which locations will be shuttered in Canada, but says they are part of a plan to slash 53 stores worldwide. In December, its annual fashion show sunk to its worst ratings ever.

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. It has been under increased competition in recent years from such newer online and store rivals as Third Love and Aerie that emphasize more inclusive sizing, comfortable fits and body-positive imaging.

Pakistan tension: Airport shutdowns affect worldwide flights
Heavy rush of passengers at air ticket counter near entrance of Jammu Airport following cancellation of flights on Wednesday. Apart from this, flights at Chandigadh, Dehradun and Dharamshala have also been suspended 'till further notice.

A popular retailer is closing more stores than usual after reporting declining profits.

On Thursday morning, L Brands stock dropped 6.6 with the opening bell on Wall Street.

Not only is the lingerie brand getting outpaced by superstores, but they are also starting to feel the heat from startups in the industry that feature everyday women as models. Burgdoerfer said closure decisions are made based on factors including current and projected performance, cash flow and local market factors.

'If they were going to pivot now, I don't think it would come off as authentic.

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