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Victoria's Secret to close 53 more stores

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Victoria's Secret parent company L Brands announced it would close 53 more stores.

Last year, 30 of the lingerie stores closed down.

L Brands CEO Stuart Burgdoerfer said the closures are "based on the overall performance of the Victoria's Secret business, not meeting our expectations or having year-on-year declines."

Read more from USA Today.

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