Bath & Body Works opens, renovates and closes stores this year.
There will be 46 new stores added to the fleet, 175 renovations and 24 closures, according to the parent company L Brands' quarterly earnings presentation, released on Wednesday before an earnings call with analysts Thursday morning.
In February, L Brands announced 53 Victoria Secret Stores would close in 2019. Documents released Wednesday show that 35 have closed from May 4.
4. May was Bath & Body Works closed three shops and opened 1
"We will continue to manage our real estate portfolio … We have opened 822 stores, closed 675 stores and sold 130 stores over the last 10 years," L Marks said in a given transcript for Thursday meeting.
Between the openings and the closures, Bath & Body Works grows by 3%, while the sister store Victoria & # 39; s Secret shrinks by 3%. Shop bars 2019: CVS, Payless and Victoria's Secret are just some of the brands that close the stores
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More than 7000 store rooms are already announced in 2019.
After the closures and openings there will be 1,641 Bath & Body Works, 909 Victoria's Secret and 144 Pink Stores in the United States
Victoria's Secret, which also opens two new stores and three pink places, continued to struggle and in the first quarter saw comparable sales decline by 5%, showing documents. In Bath & Body Works, comparable sales increased by 13%.
L Brands said it will continue to invest in Bath & Body Works "White Kids Concept," which continues to deliver strong returns, compared to the last 3 years, we have around 200 white children's projects scheduled for 2019. "
There have been more than 7,000 store rooms announced in 2019, more than all 2018. This year, Gymboree, Shopko, Charlotte Russe, Payless ShoeSource and Dressbarn have all announced that they were Exit the business: Ascena Retail Group Closes All Nearly 650 Children's Dresses
Tariff Effect: China's tariffs may force "widespread store closure" and put $ 40 billion in danger at risk
Bath & Body Works are opening and closing stores in 2019. [Photo:KellyTykoUSAidag)
Last year, Coresight Research, a global market research company, estimated that 12,000 stores could be shuttered by the end of the year.
Analysts say it is possible to trade war with China can lead to more widespread connections.
L Brands says the new forecast includes the extra effect of the latest tariff increase on goods imported from China.
"Our largest supply country is the United States, where the majority of Bath & Body Works and Victoria's Secret Beauty products are manufactured," the company said. will continue to take action to reduce our exposure to China. "
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