Victoria’s Secret in CherryVale Mall to stay open

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The Victoria’s Secret store at CherryVale Mall will stay open, a spokesperson for the mall said, after the retailer announced the closure of 53 stores last Wednesday.

Bloomberg reports that the company is drawing down on its “capital investment” after holiday sales were down 7 percent.

The clothing and lingerie store has struggled to keep up with the competition and the “body positive” culture movement.

“The outlook illustrates that the lingerie-sales struggle will persist until the retailer finds a away to reconnect with shoppers on price, product and image,” Bloomberg Intelligence analysts Poonam Goyal and Morgan Tarrant said in a note.

The company hired new CEOs and is bringing back swimwear to its online store after discontinuing it in 2016.

The company did not specify which stores will close but the CherryVale Mall spokesperson said “our store is not impacted by this announcement.”

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