CHERRY VALLEY, Ill. (WIFR) -- CherryVale Mall's staple lingerie store is safe after the parent company for Victoria's Secret recently announced closures.
According to a mall spokesperson, Victoria's Secret plans to keep doors open in Cherry Valley.
Victoria’s Secret plans to close 53 stores across the United States and Canada after their parent company released their fourth quarter earning report.
L Brands, the company that owns the lingerie store, released that North American operations fell 35 percent during that time, and was down 45 percent for the 2018 fiscal year. Viewership for the televised Victoria's Secret Fashion Show has also dropped by more than half.
The company has not said which stores will close.The announcement of closures comes after the company released its fourth quarterly report.
In 2018, L Brand closed 30 stores - one in Canada, the other 29 in the U.S.
On Thursday morning, L Brands stock dropped 6.6 with the opening bell on Wall Street.
The 2018 Victoria’s Secret Fashion Show television ratings had an audience of 3.27 million viewers - the smallest since becoming a holiday season TV event in 2001.
The Nielsen Company said the show has lost more than half its television audience in two years, the Associated Press previously reported.