Victoria’s Secret Closing 53 Stores. Is Sioux Falls One of Them?

You can add Victoria's Secret to the ever-growing list of businesses that are closing stores across the country.

KSFY TV is reporting that Victoria’s Secret, the store famous for their lingerie products plans to close an additional 53 stores across the United States and Canada after their parent company L Brands released its fourth quarter earning report recently.

According to KSFY, L Brands closed 30 stores in 2018, one in Canada, and 29 here in the U.S.

The closures are spurred by L Brands under performing stock. The company's stock was down 6.6 on Thursday morning, (February 28) when the opening bell rang on Wall Street.

As a whole, their North American Operations were down 45 percent for the 2018 fiscal year.

The Victoria’s Secret Fashion Show isn't exactly setting the television world on fire any longer as well. The KSFY TV report says the fashion shows television ratings had an audience of 3.27 million viewers according to the Nielsen Company. That is the shows smallest share since becoming a holiday season TV event in 2001.

Victoria's Secret has a store in the Empire Mall in Sioux Falls and one in the Rushmore Mall in Rapid City.

No word yet on whether the two South Dakota stores will be on the latest closure list.

Source: KSFY TV