Lowe’s To Shut Down 50 Stores In U.S., Canada

06 November, 2018, 00:57 | Author: Kevin Carter
  • Customers walk toward a Lowe's store in Hialeah Fla

The company on Monday announced it will shutter 51 Lowe's and Rona stores across North America, including 31 in Canada.

Both Michigan stores slated to close are located in Genesee County: Lowe's of Burton (Store #761), on E. Court St.in Burton; and Lowe's of Flint (Store #669) on T.A. Mansour Blvd., in Flint Twp.

Lowe's said the USA stores are closing immediately. 1, 2019 and that employees at these stories will be given the opportunity to "transition to a similar role at a nearby Lowe's store".

Cornwall is not on the list of nine stores in Ontario that will close by February 1, 2019.

The closures follow the shuttering of the company's Orchard Supply Hardware chain of 99 stores along with a slashing of inventory at other Lowe's locations. It did not identify which stores those are.

Lowe's on Thomas Burgin Parkway in Quincy is the only store in MA impacted by the closures.

Despite a strong housing market that's benefited the home-improvement retail industry, Lowe's has still trailed its larger competitor, Atlanta-based Home Depot.

More news: Israel army says did not know fatal Gaza strike targets were children

The company cut its sales and profit outlook for the year.

The home improvement company is not the only retailer to close its doors in recent months.

No Florida stores will be closed.

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

"They probably had too many locations", he said.

Ellison left J.C. Penney where he was also CEO in May to join Lowe's.

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