53 Victoria's Secret Stores Closing In 2019

Victoria's Secret plans on closing 53 North America stores in 2019, citing a "decline in performance" at the retailer.

L Brands, Victoria's Secret's parent company, announced the estimated closures in a fourth quarter earnings commentary. The company said that historically, it closes and average of 15 stores every years.

The company said it was "very focused" in improving performance at Victoria's Secret in 2019.

L Brands said its new CEOs at Victoria's Secret Lingerie and at PINK "are focused on getting closer to our customers and improving our merchandise assortments."

L Brands did not say which specific stores would be closing.

Results at Victoria's Secret in the fourth quarter of 2018 were below company expectations.