Lowe's to close 31 stores across Canada

  • Lowe's to close 31 stores across Canada

Lowe's to close 31 stores across Canada

Lowe's announced early Monday morning the closing of 20 under performing stores throughout the U.S.as part of the company's "ongoing strategic reassessment". The company said that a "majority" of the shuttered stores are within 10 miles of another Lowe's location.

To facilitate an orderly wind-down, the company intends to conduct store closing sales for most of the impacted locations with the exception of select stores in the US, which will close immediately.

The company says some of the affected workers will be offered positions at other Lowe's stores.

Lowe's on Thomas Burgin Parkway in Quincy is the only store in MA impacted by the closures.

Twenty stores in the United States and 31 in Canada will no longer be in service. Even in his first few months as the new CEO of Lowe's, Ellison has taken a number of steps to improve the company's financial health.

Close 20 US stores. As recently as August, Lowe's held a job fair for the store.

The company will wind down operations at 20 US locations and 31 Canadian stores by the end of its 2018 fiscal year, which ends February 1, 2019.

"We believe our people are the foundation of our business and essential to our future growth", said CEO Marvin R. Ellison.

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.