L Brands, owner of the Victoria’s Secret, Pink and La Senza brands, is to close all of its Henri Bendel stores along with the Henri Bendel website at the beginning of next year.
In a statement, L Brands said all 23 locations will close in January 2019 as part of a bid to improve company profitability and focus on larger brands with greater growth potential. The stores include the company’s Fifth Avenue location as well as smaller-format stores in 11 states.
All stores and the website will remain in operation through January 2019, with new merchandise continuing to arrive through the holiday season.
“This decision is right for the future growth of our company, but not easy because of the impact to our L Brands family,” said Leslie Wexner, chairman and CEO.
The company estimates that Henri Bendel 2018 revenues and operating loss, excluding closing costs, will be about $85m and $45m, respectively.