Victoria’s Secret Closing Stores
It looks like another brick and mortar chain has fallen victim to the changing times. Victoria’s Secret officials have announced they’re closing 53 stores by the end of the year.
The announcement followed Wednesday’s revelation that the lingerie outlet’s sales were down 3 percent in 2018. The decline in sales were foreshadowed by what appeared to be a diminishing interest in the Victoria’s Secret brand. The company’s annual televised fashion show has steadily lost viewers in recent years, dropping from 6.7 million in 2016 to 3.3 million last year.
The store has also been criticized for promoting women as sex objects in an era when the #MeToo movement has been fighting for gender equality.
Do you predict Victoria’s Secret will continue to prosper online? Are we heading toward a time when most shopping will be done online?