Victoria's Secret to close 250 stores as L Brands starts its big breakup

Victoria's Secret will close 250 stores this year as L Brands Inc. (NYSE: LB) prepares to break up its two capstone brands. The retailer's closures will take place over the course of the year across its North American footprint. It plans a "meaningful number" of store closures in 2021 and likely beyond as well, interim Victoria's Secret CEO Stuart Burgdoerfer said in a call with analysts May 21. There are 11 locations in San Antonio, but its known how many of those stores, if any, will close. "What…