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Victoria's Secret announced a closure of 333 stores: 30 in 2018, 53 in 2019, and 250 in 2020, up from the previous average of 15 per year. [327] These combined closures amount to about 29% of the brand's stores. The parent company divested itself of La Senza in January 2019, which was further affected [broken anchor] by the retail apocalypse. [328]
Exterior of the JCPenney store at the Richland Mall in Ontario, Ohio (2008) In early 2001, JCPenney closed 44 under-performing stores. In 2001, JCPenney sold its direct-marketing insurance unit to Dutch insurer Aegon for $1.3 billion (equivalent to $2.24 billion in 2025) in cash to help refocus the company on retail. [30]
The department store may close up to roughly 300 of its more than 1,000 locations within the next two years, according to Cowen & Co. JCPenney could close up to 30 percent of its stores Skip to ...
In order to accomplish this, the remaining stores in the mall were closed one a time as were two of its anchor stores, Old Navy and Loehmann's. The TGI Friday's restaurant that was located in the mall was replaced by a freestanding location in the parking lot, and the remaining two anchors (JCPenney and Fortunoff) sealed off their mall entrances.
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related to: jcpenney 30% off code retail stores list