L Brands Inc., owner of Victoria’s Secret and Bath & Body Works, have confirmed they will be eliminating 200 jobs in Columbus and New York. The company confirmed they will be cutting the jobs as they reorganise their online and catalogue businesses. L Brands employs 87,900 people, according to its most recent annual report, and it is estimated that L Brands will report a 2% improvement for March same-store sales, significantly lower than last year’s gain of 9%.
Since Leslie Wexner took over as Chief Executive Officer, changes at the company have been expected. Chief Financial Officer Stuart Burgdoefer said “we’ll try to be careful about how many things we change at once and hopefully we’ll get that more right than wrong.”