“Given the decline in performance at Victoria’s Secret, we have substantially pulled back on capital investment in that business versus our history,” the company said.
»RELATED: Booze, bowling and roller coasters: The future for Dayton-area malls
Victoria’s Secret has opened 820 stores, closed 673 stores and sold 130 stores over the last 10 years. The company has recently struggled as consumer shopping habits shift and more stores enter the lingerie, intimates and sleepwear market.
There are stores at The Greene Town Center, Mall at Fairfield Commons, Dayton Mall, Liberty Town Square, Tri County Mall, Northgate Town Centre and Kenwood Towne Centre. There is also an L Brands call center that employs several thousand in Kettering.
L Brands is shifting focus to its more successful brand Bath & Body Works, while continuing plans to improve Victoria’s Secret’s performance. The company previously announced plans to close Henri Bendel and sell La Senza.
FIVE FAST READS
• 5 things to know about Payless bankruptcy, sales
•First Wayfair store now permanently open
• Local family growing Rose and Remington store across the U.S.
• Luxury apartments, townhouses, carriage homes coming to Huber Heights
• New owner of Kettering grocery store started as bagger