L Brands has a market cap of about $19.2 billion. L Brands shares fell 3.8% Monday, amid a broader market sell-off. Victorias Secret IE: The Sexiest Bras, Panties, Lingerie, Sportswear & Beauty ORDER BY 10PM FOR NEXT DAY DELIVERY TO HOME OR STORE MORE PYJAMAS, PLEASE Elevate your nighttime look with chic, modal styles. The department store chain Macy's is also in the process of opening a handful of smaller-format locations, off-mall. recently said 80% of its sales are coming from outside of the mall: Either online, in strip centers or from street-level locations. Victoria's Secret certainly isn't the first retailer to employ a strategy of shifting away from enclosed shopping malls. "And we expect that those malls will continue to be vulnerable for about three years." Buy 1 Get 1 free on selected products only at Victoria’s Secret Uae. You can save more on Bras, Panties and Lingerie online shopping from this store and save with every purchase. "There is downward pressure from about 150 vulnerable malls," Waters said about the mall landscape in the U.S. Get free and excluisve Victorias Secret coupon code from and save 10 to 50 or more. Thirty-seven percent are in B malls, 13% are in C-rated malls, and 24% are in other property types, the company said. About 26% of Victoria's Secret's locations in North America are currently found in so-called A-rated malls, which bring in the most sales per square foot. Today, it has 867.Īs it looks to grow its off-mall locations, Victoria's Secret will likely keep its stores open in better-performing centers. The company had 1,143 locations in the region back in 2018. The initiative has been a necessary one as more consumers shift their spending online. Victoria's Secret has been for year whittling down its store portfolio, particularly in North America, to focus investments on the more profitable shops. "We were marketing the brand in a way that, frankly, was tone deaf and starting to become, if not already, culturally irrelevant," Waters said. As it looks to ditch its sexist and body-shaming image, the retailer has been bringing in mannequins in extended sizes to showcase its bras and underwear. Black fixtures are being removed and replaced with white and light-wood tones. Victoria's Secret is in the process of refreshing existing locations to make them lighter and, hopefully, more inviting to potential customers. The goal with these locations is to significantly cut costs, it added. The future Victoria's Secret shops will offer improved customer service, have a "modern and feminine" feel and a refined staffing model, the company said. "It's about a flexible environment where we can move merchandise around - based on what's selling best, and selling less." "We can take advantage of the traffic that's in those clearance and off-mall locations," Waters said in the presentation. That will be followed by another 10 test locations in 2022, the majority of which will be off-mall. One of these new stores will be in an off-mall strip center, Waters said. During a virtual investor presentation on Monday, Victoria's Secret & Co.'s CEO Martin Waters explained the retailer plans to test a "store of the future" at three locations later this fall.
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