Lowe's Closing Dozens Of Stores Across U.S. And Canada

05 November, 2018, 23:44 | Author: Dave Hampton
  • Lowe’s closing underperforming stores

Closing sales at affected stores are scheduled to begin this Thursday, November 8, the company said, with final closure dates before February 1 of next year.

No Florida stores will be closed.

Store closing sales will occur at most of the affected locations, with exception of select stores in the USA, which the company said will close immediately.

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.

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Lowe's will shut down one store in Texas - the location in Irving at 3500 W. Airport Freeway.

The closures are a part of the company's ongoing reassessment of their stores.

A list of impacted stores may be found on Lowe's newsroom.

Lowe's and its related businesses operate or service almost 2,400 locations and employ more than 310,000 people.

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Lowe's will offer affected employees the opportunity to transfer to similar roles at nearby stores. In July, Lowe's received approval to move into a 110,000-square-foot space at a shopping center in Queens.

Ellison has also initiated some major shakeups in the company's executive leadership ranks.

In an interview with the Observer last month, Ellison said he considers Lowe's a "transformation" and not a "turnaround" like J.C. Penney, where he spent the last three years as CEO.

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