Lowe’s to Close Over 50 Stores
Lowe's has announced that they will be shutting down 51 underperforming stores. The company announced today that 31 of those stores will be in the U.S. with the other 20 in Canada.
The closings are part of a reassessment plan for the company, which plans to focus on their most profitable stores and the overall health of the Lowe's portfolio. Lowe's operates over 2,000 home improvement stores in North America. A company spokesperson says a majority of the stores that close are within 50 miles of another Lowe's location.
Lowe's plans to close down the affected locations by February of 2019. Store closing sales will be conducted at those locations as well. Employees who are affected by the closings will be offered positions at other Lowe's locations when possible. For a list of stores that will be closing click HERE.
No Iowa stores are on that list. Lowe's has stores in Altoona, Ames, Burlington, Cedar Rapids, Coralville, Davenport, Dubuque, Sioux City, Waterloo, and two West Des Moines stores.