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Lowe's to Close 47 Stores in the US and Canada Facebook: Lowe's

It’s been a bad year for Lowe’s after the company announced it is closing 47 of its underperforming North American stores. The company stated this decision will help the hardware chain focus on it’s “most profitable stores”, and is necessary to step in their strategic assessment as they focus on building a strong business.

This isn’t the first time a retail store abruptly announces its closure. The decision comes after many successful stores have adjusted their business strategies due to Amazon, including Kmart, Sears, and Toys “R” Us. The advantage Lowe’s and it’s rival Home Depot have is that they are largely “Amazon-proof” since Amazon does not sell lumber or any heavy bulky home improvement products

Yet, Lowe’s is struggling to keep up with Home Depot’s revenue, after it was more than $100 billion last year, while Lowe’s sales were below $70 billion. Earlier this year Lowe’s decided to incorporate home improvement veteran and New Chief Executive Officer Marvin Ellison, to turn around the company. Ellison was a top executive Home Depot for more than a decade, recently serving as JC Penney’s CEO.

Ellison has made big strategic decisions, including closing all Orchard Supply Hardware stores and slashing inventory at its Lowe’s Stores. The Orchard Supply chain cost the company between $390 million and $475 million in write-downs. Low’s announcement would result in charges of 28 cents to 34 cents per share or $300 million to $365 million in pretax expenses.

He believes that targeting professional home builders and construction companies with higher quality equipment and tools, additional discount and better customer service will improve Lowe’s. Sales to home building pros make up 45% of Home Depot sales, but only 30% of Lowe’s sales.

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The retail store closing wave has already begun and the holiday season hasn’t even started yet. Lowe’s said Monday it will shutter 51 lagging stores, including 20 in the U.S. and 31 in Canada. The stores span across 13 states in the U.S. and five regions in Canada. New Lowe’s CEO Marvin Ellison has wasted no time trying to cut costs by way of closing underperforming stores. In August, Ellison said he would shut the lights off at 99 Orchard Supply stores. Lowe’s only bought the home improvement retail chain in 2013. Read more in the link in bio. * * * * * #YahooFinance #lowes #store #closing #closed #close #us #usa #america #retail #company #stores #store #graphics #graphic #map #storeclosing #read #instaoftheday

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Lowe’s, which operates about 1,800 U.S. stores and 300 in Canada, will shut down 20 stores in the U.S. and 27 in Canada. The company stated the “majority” of the shuttered stores are within 10 miles of another Lowe’s location. Four offices and specialty facilities in Canada will also close by February 1, 2019.

As for the employees who will be affected, the company stated they will try to find jobs at a nearby store.

The following stores will be closing:

Alabama

1100 Bankhead Hwy SW, Graysville

California

26501 Aliso Creek Rd, Aliso Viejo

13300 Jamboree Rd, Irvine

720 Dubuque Ave, South San Francisco

750 Newhall Dr, San Jose

Connecticut

48 Boston Post Rd, Orange

Illinois

1333 Schaefer Rd, Granite City

7735 Grand Ave, Gurnee

Indiana

6221 US Hwy 6, Portage

Louisiana

5770 Read Blvd, New Orleans

Massachusetts

599 Thomas Burgin Pkwy, Quincy

Michigan

4274 E Court St, Burton

2100 T.A. Mansour Blvd, Flint

Minnesota

2015 Bassett Dr, Mankato

Missouri

11974 Paul Mayer Ave, Bridgeton

3180 N Hwy 67, Florissant

New York

2008 Broadway, New York

635-641 6th Ave, New York

Pennsylvania

250 South Conestoga Dr, Shippensburg

Texas

3500 W Airport Fwy, Irving

British Columbia

(Rona) 105-1015 Columbia Street, New Westminster

Alberta

(Rona) 11520 — 24th Street SE, Calgary

(Reno-Depot) 12330 Symons Valley Road NW, Calgary

Ontario

Rona:

1133 Dundas Street West, Mississauga

1692 Lakeshore Rd, Mississauga

132 Black Road, Sault Ste. Marie

943 Barry Downe Road, Sudbury

1575 Chemong Road, Peterborough

1452 Bath Road, Kingston

178 Water Street, Lakefield

Lowe’s:

6600 Yonge Street, North York

248 Northern Avenue, Sault Ste. Marie

Québec

Rona:

335, Route 209, Sainte-Clotilde-de-Chateauguay

870, Boulevard d’Iberville, Saint-Jean-sur-Richelieu

723, Boulevard L’Ange-Gardien, L’Assomption

788, Rue Moeller, Grandby

134, Boulevard Sainte-Rose, Laval

9200, Boulevard Maurice-Duplessis, Montréal

1200, Rue Mantha, Rouyn-Noranda

194, Rue Principale, Ange-Gardien

100, Rue du Parc Industriel, Saint Elzéar

Newfoundland

Rona:

825 Conception Bay Hwy, Conception Bay

53-59 Main Highway, Goulds

1297 Topsail Road, St. John’s

60 O’Leary Avenue, St. John’s

710 Torbay Road, St. John’s

239 Conception Bay, Bay Roberts

Watch: Thanksgiving Day 2018: These Stores Will Be Closed

Silke  Jasso About the author:
Silke Jasso is a bilingual editor, writer, producer, and journalist specialized in online media. Born in Laredo Texas, her previous works include LareDOS Newspaper where she was an editor and writer and Entravision Communications where she was a Co-Anchor and Multi-Media Journalist for Fox39 News and Univision 27. She recently ...Read more
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