Lowe’s Companies, Inc. today announced it will close “certain underperforming store locations as part of its ongoing strategic reassessment.”
The retailer will close 20 stores in the U.S. and another 31 in Canada. Most associates at U.S. stores will be extended opportunities to transition to a similar role at a nearby Lowe’s store, the company announced. The majority of impacted stores are located within 10 miles of another Lowe’s store.
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No local stores will be impacted.
“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.”
Stores are expected to close by Feb. 1, 2019.
Lowe’s has partnered with Hilco Merchant Services to help manage the process in the U.S. and ensure a seamless experience for customers.
Here is a full list of impacted stores.
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