NAMED: The 51 ‘underperforming’ Lowe’s stores that will close across the US and Canada by February 2019
Lowe’s announced Monday it would close 20 stores in the US and 31 in Canada
Some states and provinces will see the closure of multiple stores
Select stores would close immediately and others will shutter by February 2019
Lowe’s will also close or consolidate four ‘non-store facilities,’ too
The move is part of the company’s ‘ongoing strategic reassessment’
Lowe’s is trying to compete with long-time section leader Home Depot
Lowe’s currently operates about 1,800 US stores and 300 in Canada
MAXINE SHEN
DAILYMAIL.COM
6 November 2018
Home improvement chain Lowe’s is closing down 51 ‘underperforming’ stores across the US and Canada, some of which will be shuttered immediately.
Lowe’s revealed the closure plans Monday, claiming in a media alert that the decision was ‘part of its ongoing strategic reassessment’ and would allow the company to ‘focus on its most profitable stores and improve the overall health of its store portfolio.’
In the US, 20 standalone Lowe’s will be shut down in states including Alabama, Massachusetts, Illinois, Michigan, Texas, Pennsylvania and Louisiana. California alone will see four stores get closed.
‘The majority of impacted stores are located within 10 miles of another Lowe’s store,’ the company said of the American closures, adding that ‘Most associates at these stores will be extended opportunities to transition to a similar role at a nearby Lowe’s store.’
Canadian Lowe’s stores will see steeper cuts, with 31 locations, including two plants, getting the ax in Ontario, Alberta, Quebec, Newfoundland and British Columbia. Nine stores each will be closed in Ontario and Quebec alone.
The decision to close the Canadian outposts — almost all of which still bear the RONA name — comes just two and a half years after Lowe’s completed it’s acquisition of the Canadian home improvement chain in May 2016.
Lowe’s said that it would be closing or consolidating four ‘non-store facilities,’ but did not specify where those locations were.
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