Victoria's Secret to close more than 50 stores in US, Canada

A general view of the atmosphere at Victoria's Secret in Costa Mesa California

Victoria's Secret's same-store sales also fell during the holidays, dropping 3% during the quarter.

All of the closures will be in North America, and will see their actual square footage shrink by 3 per cent.

During an earnings call on Thursday, Stuart Burgdoerfer, L Brands CFO said " ... we close stores every year.

What's new. L Brands reported a fourth-quarter profit of $2.14 per share, beating forecasts for $2.08 cents, according to FactSet.

A Victoria's Secret spokesperson didn't return Advance request for comment about whether its store in the Staten Island Mall, New Springville is on its hit list. It has plunged more than 40% in the past year.

Victoria's Secret still has more than 950 stores in the United States.

Startups like Adore Me and Thirdlove have proved that consumers are more compelled to buy their intimate wear from a brand that does not boast unattainable beauty standards - they also sell a wider range of better-fitting bras. "The outlook illustrates that the lingerie-sales struggle will persist until the retailer finds a way to reconnect with shoppers on price, product and image", said Bloomberg Intelligence analysts Poonam Goyal and Morgan Tarrant. Razek told the interviewer that he didn't think the company's annual fashion show should feature "transsexuals" because the show is a "fantasy". But shifting its identity could prove hard, said Janine Stichter, analyst at Jefferies.

The numbers say as much about what's been going on outside of Victoria's Secret as within it. They don't have a great option.

The company has not publicly identified which specific stores will be closed.

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