Sunday, 16 December, 2018

Lowe's to shut 51 underperforming stores in US, Canada

Sears closed its last Chicago store Lowe’s closing underperforming stores
Priscilla Morrison | 05 November, 2018, 15:54

Lowe's Companies Inc. says it plans to close 31 Canadian stores and other locations as part of a plan to focus on its most profitable operations.

Lowe's is closing 51 underperforming stores across the US and Canada.

"In this transformation, we're going to focus on retail fundamentals first, and concurrently we're going to modernize this company from. a digital and IT perspective and from a supply chain perspective, and we're going to create a truly great company", Ellison said. As recently as August, Lowe's held a job fair for the store.

Close 20 US stores.

Lowe's stores in USA states including New York, Texas and California and Rona outlets in Ontario, British Columbia and other Canadian provinces are being shut, Lowe's said. There are two stores in Dallas that are less than 10 miles away on Chalk Hill Road and Lemmon Ave.

More news: Egypt police kill 19 involved in Coptic monastery attack: Ministry - Politics - Egypt

Close 31 Canadian stores and other locations. "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 will have store closing sales at most of the locations to get rid of inventory.

Hilco Merchant Services has partnered with the retailer to help manage the process in the U.S. Additional details regarding the impact of the store closings will be provided in the next quarterly earnings release on November 20.

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

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