Lowe’s recently announced that it would be closing several stores and branches in 2020 as part of a “strategic” decision. It closed many in 2019 , and it is continuing what hopefully won’t become a pattern. The company also famously competed in the high-stakes world of NASCAR racing over the years.
Lowe’s Canada announced on November 20 that after strategically reviewing its operations, 34 underperforming stores will be closed to optimize the Lowe’s network. As such, in six provinces, some Lowe’s, Rona, and Reno-Depots locations will be closing their doors.. In January and February 2020, stores in B. C, Alberta, Saskatchewan, Ontario, Quebec, and Nova Scotia will close down.
You should be wondering “What lowe’s stores are closing in 2020?”
Store closures will reportedly include 26 Ronas, 6 Lowe’s, and 2 Reno-Depots that are expected to close in January and February of 2020.
The home improvement chain cited “strategic reassessment” as the reason behind closing the underperforming stores before February 1, 2019. The majority of the 20 affected U. Stores fall within a 10-mile radius of another Lowe’s location, the brand states.
Home improvement retailer Lowe’s announced Monday that it is closing 20 stores in the U. And 31 stores in Canada. It said that the majority of store closures occur where there are two Lowe’s within 10 miles of each other.
What Lowe’s stores are closing in Alabama?
Here are the Lowe’s stores that are closing: U .
How many Lowes stores are in the US?
Lowe’s, which operates 2,390 stores around the U. S, said Monday it would shut 20 stores in the U. And 31 in Canada “to focus on its most profitable stores and improve the overall health of its store portfolio.” The company said this summer it would close its Orchard Supply Hardware chain, purchased in 2013 for $205 million.
Can Lowe’s keep up with its bigger competitors?
The move comes even amid a robust housing market that’s boosted home improvement retailers, with Lowe’s unable to keep pace with its bigger rival, Home Depot.
Is Lowe’s closing stores in Canada?
The Canadian store closures add to the 51 U. And Canada locations that Lowe’s announced it was closing back in November 2018 . A total of 31 of the stores were located in Canada at the time.
In Canada, Lowe’s will close 31 Rona stores after it bought the franchise in 2016 and expanded to about 700 locations, CNBC reports. Here is the full list of the affected stores, per Lowe’s website:.
How many it stores will be closing in 2021?
It planned to downsize by around 122 stores in 2021, with 25 closures in its first quarter and 97 planned by the end of the fiscal year.