Lowe’s closing underperforming stores

Lowe’s closing underperforming stores

Lowe’s closing underperforming stores

Home improvement megachain Lowe's said Monday it will close more than 50 stores in the United States and Canada because they're under-performing. There are also 31 in Canada that will close, according to the company. Earlier this year, Lowe's reduced inventory at its stores, and closed all of its Orchard Supply Hardware stores, a California-based subsidiary.

To provide an "an orderly wind-down", Lowe's intends to conduct store closing sales for most of the locations.

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

Close 20 US stores.

Home building retail chain, Lowe's, is closing 27 of its Rona stores across the country in February, including three here in Northern Ontario.

For a long time, Lowe's underperformed its larger rival Home Depot (HD), and few saw hope that the situation would change.

No local stores were among those listed to close.

In addition to the Gurnee and Portage locations, Lowe's is closing its store in Granite City, near St. Louis.

Lowe's last month opened a second store in Windsor, Ont. So it wasn't a big surprise when the company announced the closure of 51 more locations, the majority in Canada.

Home improvement in North America is taking a hit.

MOORESVILLE, N.C. - Lowe's Companies, Inc.

Ellison has also initiated some major shakeups in the company's executive leadership ranks. Other high-profile positions were eliminated and replaced with other roles that report to the CEO.

The Atlantic Canada Regional Council of Carpenters, Millwrights and Allied Workers said numerous employees had worked for Rona for decades and "deserved better treatment from this employer".

Latest News