Store Closings: Victoria’s Secret, JC Penney, Tesla, Gap
The past week has been a rough one for national chain retailers. Multiple companies announced store closure plans following reports of poor financial performance. Those announcements include:
- GAP announced that it would split off Old Navy and close 230 GAP stores over the next two years.
- Tesla announced that all sales will be moving online and will gradually begin closing stores in multiple waves.
- Columbus-based L Brands announced that it will close 53 Victoria’s Secret stores following a poor holiday sales season in 2018.
- JCPenney will close another 18 stores this year, following the closure of 140 stores in 2017.
None of these four announcements came with lists of stores that will be closed as of yet. Each of the four have Central Ohio locations.
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