Lowe’s announced today that the company would be closing more than 50 stores across North America.
That includes 31 stores in Canada, although only one is in British Columbia and the vast majority are in Ontario, Quebec and Newfoundland.
Underperforming stores are the ones getting the axe, as the company plans to focus on its most profitable stores to improve the business overall.
“While decisions that impact our associates are never easy, the store closures are a necessary step in our strategic reassessment as we focus on building a stronger business,” said Marvin R. Ellison, Lowe’s president and CEO.
“We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe’s stores.”
It shouldn’t take long to close the impacted stores, as Lowe’s expects to complete the process by the end of the company’s 2018 fiscal year (Feb. 1, 2019).
Most stores will jump into closing sales in the near future, while a few select American locations will simply close immediately.
To see a full list of closing stores, click this link.
