Lowe’s To Close 2 Bay Area Stores Deemed Underperforming

Anna Jefferson
November 6, 2018

Lowe's Companies said it will close 51 stores in the United States and Canada, the latest national retailer to shed its brick and mortar locations amid increasing e-commerce competition.

The company says it will give associates opportunities to transition to other stores.

Lowe's Companies Inc.is reducing its Canadian footprint by closing 31 properties across the country in a bid to streamline its business.

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It did say the company will try to find jobs at nearby stores for employees affected by the closings.

Stores in north suburban Gurnee and Portage, Ind., are among the 20 U.S. Lowe's locations set to wind down operations by February as the North Carolina-based chain focuses on its most profitable stores.

Three stores in the GTA have been marked for closure - two Rona locations in Mississauga and the Lowe's at Centrepoint Mall.

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Twenty locations in the US will be closed along with 31 stores in Canada. It did not identify which stores those are. Most employees will be allowed to transfer to a different store in some cases, it said. Most of the unprofitable stores are each within 10 miles of another one of its stores, Lowe's said.

The company has been laboring to keep up with Home Depot.

Last week, for instance, Lowe's hired Seemantini Godbole, Target's senior vice president of digital and marketing technology, as its new chief information officer. Other high-profile positions were eliminated and replaced with other roles that report to the CEO.

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Lowe's operates almost 2,400 stores in the United States and Canada.

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