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The US DIY store giant Lowe's is closing 20 stores in the USA as well as 27 stores and four other corporate subsidiaries in Canada. Most of the affected US branches are only ten miles away from another Lowe's store. Both of Lowe's locations in Manhattan are also on the list. In Canada, 24 Rona stores, two Lowe's stores and a location of the Réno-Dépôt brand will be shut down.
Most of the closures are expected to be completed by the end of financial year 2018/2019, i.e. by 1 February 2019, however some locations in the USA will be closed immediately.
According to a press release from Lowe's, the affected branches had not worked profitably and the closures are part of a strategic reassessment. They state that the company wishes to concentrate on its most profitable stores and improve the efficiency of its overall portfolio.
Most of the closures are expected to be completed by the end of financial year 2018/2019, i.e. by 1 February 2019, however some locations in the USA will be closed immediately.
According to a press release from Lowe's, the affected branches had not worked profitably and the closures are part of a strategic reassessment. They state that the company wishes to concentrate on its most profitable stores and improve the efficiency of its overall portfolio.
