Tuesday, 20 November, 2018

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

Lowe’s closing underperforming stores Lowe’s to close dozens of underperforming stores across the US and Canada | Charlotte Observer
Nellie Chapman | 05 November, 2018, 17:44

"Everything will be done to ensure a smooth transition until the stores are closed, and Lowe's Canada will support impacted employees, including by transferring eligible employees to other locations within our network whenever possible", Prud'homme said in a statement. It will also close 20 "underperforming" stores in the U.S. None of the USA stores to close are in the Carolinas, according to the list posted on Lowe's website. Twenty of the closings are in the U.S., and California leads the way with four (San Jose, South San Francisco, Irvine, and Aliso Veijo).

It was just over a year ago that Lowe's bought fellow Canadian home improvement retailer Rona.

The company says some of the affected workers will be offered positions at other Lowe's stores. Lowe's reports financial results Wednesday, Nov. 16.

In a release, the company states most of the impacted stores are within 16 kilometres of another Lowe's store.

The RONA store on Barrydowne Road in Greater Sudbury is set to close as Lowe's Companies Inc. focuses on its most profitable stores to improve the overall health of its store portfolio, it said in a news release.

The company says the closings are part of the company's strategic reassessment.