Lingerie brand leaves two local malls

A Victoria’s Secret store in Ann Arbor, Mich. (Courtesy Wikimedia)

Another national womenswear retailer has closed some of its local stores, adding to vacant space at two area shopping malls.

Victoria’s Secret this month closed its Stony Point Fashion Park and Virginia Center Commons locations.

The women’s retailer is owned by Ohio-based fashion company L Brands, which also owns Bath & Body Works. The publicly traded company previously announced it would be shutting 53 Victoria’s Secret stores this year after closing 30 in 2018.

L Brands confirmed that the Stony Point location closed March 18. The VCC location also closed this month. L Brands did not confirm a date for that closure.

In addition to Stony Point, the women’s retailer also shuttered its location at Virginia Center Commons. (Mike Platania)

Victoria’s Secret now has three stores in the region, all in malls – at Short Pump Town Center, Chesterfield Towne Center and Southpark Mall. There are about 1,100 Victoria’s Secret stores nationwide.

In its annual report filed with the SEC last week, L Brands told shareholders that Victoria’s Secret has underperformed.

“Major merchandise misses have resulted in increased promotion which negatively impacted margin rates,” the company said. “Our recent overall performance at Victoria’s Secret has been below our expectations, and we are determined to do better.”

In 2018, L Brands reported $13.2 billion in revenue with a profit of $644 million, down from $983 million in profit in 2017.

Another national womenswear retailer is preparing to close stores in the region this spring. Clothing brand Charlotte Russe plans to shut three stores in the Richmond area as the company goes out of business.

The Victoria’s Secret closures deal a blow to Stony Point and VCC, both of which lost an anchor tenant in the last six months.

Last year, Dick’s Sporting Goods closed its Stony Point store, though the mall has filled other spaces with eateries such as La Hacienda, NarWhals Rolled Ice Cream and Latitude Seafood Co., as well as escape room Gnome & Raven.

Virginia Center Commons lost its Sears store in February. The Henrico County mall was sold for $9 million in 2017.

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Ed Christina
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Serious question: Why don’t malls do more to attract breweries?
Intermission Beer Company would be so much more helpful to foot traffic at VCC if it had a space INSIDE the mall.
Has anyone ever tried having a mall, and having a Scott’s addition level of breweries?

Michael Dodson
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Michael Dodson

Interesting idea but VCC is gone and past hope. They now close at 8pm. Hot Topic closed this fall. Jimmy Jazz staff said they are out once the lease is up. We walked by the old arcade; it was frightening. The spot was dark and the prize machine (with the arm claw that never likes anyone) was empty. The mall’s website dates to 2016 (surprised it is still hosted) but appears update to date on store listings though. At least Henrico got them to pave/seal part of the parking lot but it was no parking space stripes.

David Humphrey
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David Humphrey

Often the commercial zoning does not allow for breweries unless they are part of a restaurant. That is why most breweries locate in “industrial” areas like Scott’s Addition. The reason for that is there are actually smells and other issues associated with larger scale breweries.