Lowe's is closing 51 stores in the US and Canada

05 November, 2018, 17:39 | Author: Eric Barnett
  • A Lowe's store in Hialeah Fla. on Wednesday

Lowe's says it is closing 31 locations, including 27 of its under-performing Lowe's and Rona stores across Canada. You can check out the list here.

Lowe's also plans to close its regional support centres in Mississauga, Ont., and St. John's, N.L., as well as a truss plant in St. John's, N.L., and a block plant in Kamloops, B.C.

Lowe's, which operates over 2,000 stores in North America, said the latest store closures would be complete by February.

Some of the US stores will close immediately, Lowe's said.

The company says some of the affected workers will be offered positions at other Lowe's stores.

Lowe's now operates a total of 2,390 home improvement and hardware stores.

The closures are a part of the company's ongoing reassessment of their stores. "We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe's stores".

Lowe's, which has trailed Home Depot in sales for years, is in the midst of a turnaround under new Chief Executive Officer Marvin Ellison, who has promised to remove slow-selling products and end unsuccessful ventures.

Lowe's made the announcement Monday. The priority for Lowe's right now, he said, is improving basic "retail fundamentals".



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