Lowe's to close 31 stores across Canada

Andrew Cummings
November 5, 2018

Nine store closures are expected across Ontario, including one in Sudbury.

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

The Mooresville-based home improvement retailer announced early Monday that it will shut down 20 stores in the USA and 31 in Canada in an effort to "focus on its most profitable stores and improve the overall health of its store portfolio".

Lowe's expects the stores targeted will be closed by February 1.

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

The company says the closings are part of the company's strategic reassessment. None of the USA stores to close are in the Carolinas, according to the list posted on Lowe's website.

"The store closures are a necessary step in our strategic reassessment as we focus on building a stronger business", Ellison said in a statement.

In a release, the company states most of the impacted stores are within 16 kilometres of another Lowe's store.

Hilco Merchant Services has partnered with the retailer to help manage the process in the U.S. Additional details regarding the impact of the store closings will be provided in the next quarterly earnings release on November 20.

Lowe's bought Rona, Canada's biggest home improvement chain, in 2016 for about US$2 billion, adding about 700 stores to its 40 in the country.

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