Lowe’s closing underperforming stores

Lowe’s closing underperforming stores

The Indiana store is in Portage.

The closings include 20 stores in the USA and 31 locations in Canada, including four offices and specialty facilities, according to a Lowe's press release. As recently as August, Lowe's held a job fair for the store.

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

Lowe's said it will conduct store-closing sales, and that all of the affected locations are expected to close by February 1, the end of its 2018 fiscal year. Marie and one in Sudbury are on the list for closure. One month after taking over at Lowe's, Ellison announced that the firm would be closing down its 99 Orchard Supply Hardware stores, which the company had acquired five years ago.

Retail stores are struggling to adjust to the rapid rise of online shopping, particularly from Amazon.

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Lowe's Cos. Inc. will close 20 "underperforming" stores in the United States, including four in California, the home-improvement chain said Monday. During his time at Penney, the retailer closed 142 unprofitable stores.

Lowe's and its rival Home Depot have proven to be largely Amazon-proof, because Amazon does not sell lumber or other heavy, bulky home improvement products.

"When you get a new president in an American company who just looks at stores as dots on a map, it is problematic", he said. He likes the company's "honed focus", as Lowe's cuts its losses and doubles down on improving its highest-potential stores.

Lowe's shook up its executive suite recently, hiring a new chief information officer from Target.

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