Published: Mon, November 05, 2018
Business | By Tara Barton

Lowe's to close 31 stores across Canada

Lowe's to close 31 stores across Canada

Home improvement retailer Lowe's announced Monday it will close underperforming stores in the USA and Canada as part of a reorganization. You can check out the list here.

Home improvement retail giant Lowe's has announced it will close 31 stores in Canada.

Lowe's on Thomas Burgin Parkway in Quincy is one of 20 underperforming stores the home improvement chain announced this morning it will close by February 1 across the United States.

Based in Boucherville, Que., Lowe's Canadian business has more than 630 corporate and independent affiliate dealer stores.

Most of the unprofitable stores are each within 10 miles of another one of its stores, Lowe's said.

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Lowe's now operates a total of 2,390 home improvement and hardware stores. Lowe's said employees in the affected stores were notified of the closures Sunday evening. Lowe's reports financial results Wednesday, Nov. 16.

Lowe's made the announcement Monday.

Ellison left J.C. Penney where he was also CEO in May to join Lowe's.

That includes, for instance, retooling inventory to ensure popular products are always in stock, and that Lowe's clears out unpopular products that gather dust on the shelves.

In a release, the company said the locations are underperforming.

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