Victoriaโs Secret to close 250 stores, Bath & Body Works will close 50, reports say
The company was forced to close stores on March 18 because of the coronavirus outbreak, causing sales to plunge by as much as 45%, the company said Thursday. Kohl's said earlier this week that sales fell 43% last quarter, while sales at L Brands, the parent company of Victoria's Secret and Bath & Body Works, dropped 37%. Macy's began reopening stores on May 4 -- just a couple days after its first fiscal quarter came to a close. Macy's is limiting the number of customers allowed inside stores that are reopening and installing social distancing signs and markers. The company says itโs working: โWith two weeks of results from reopened stores, customer demand is moderately higher than we anticipated,โ Gennette said.