Lowe's to close 51 stores, including 2 in Chicago area
05 November, 2018, 23:43 | Author: Shawna Walton
Nine store closures are expected across Ontario along with 31 Canadian stores that will be shutting their doors by February 1, 2019.
Among the 27 stores set to close by the end of January are nine in Ontario, nine in Quebec, six in Newfoundland and Labrador, two in Alberta and one in British Columbia.
Some of the USA stores will close immediately, Lowe's said.
Founded in 1946, Lowe's has more than 2,390 stores and past year generated $68.6 billion in sales.
The company will try to find jobs at nearby stores for its employees affected by the closings.
The closures are a part of the company's ongoing reassessment of their stores.
Most of the locations are said to be within 10 miles of another store.
In August, Lowe's said it planned to close all Orchard Supply Hardware stores, the 99-store chain the company acquired in 2013.
"We believe our people are the foundation of our business and essential to our future growth", said CEO Marvin R. Ellison.
The home improvement company is not the only retailer to close its doors in recent months.
Lowe's Canadian business is based in Boucherville, Que. and has more than 630 corporate and independent affiliate dealer stores. Lowe's also did away with a few high-profile positions, such as its chief operating officer and chief customer officer, and replaced them with other roles that report directly to Ellison.
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