Lowe's to close underperforming stores in US, Canada


Twenty stores in the United States and 31 in Canada will no longer be in service.

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".

Lowe's opened its Northern Avenue location in 2015 after renovations were completed on the former Zellers spot.

The majority of the USA stores to close are within 10 miles of other Lowe's stores, the company said, so affected employees will have the opportunity to transfer to similar roles in nearby locations. As recently as August, Lowe's held a job fair for the store. Lowe's said employees in the affected stores were notified of the closures Sunday evening. Most associates at these stores will be extended opportunities to transition to a similar role at a nearby Lowe's store.

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Three stores in the GTA have been marked for closure - two Rona locations in Mississauga and the Lowe's at Centrepoint Mall. Others and the Canadian stores are expected to close by February 1, the end of the company's fiscal year.

Ellison, who joined the company in May, has already made some big strategic decisions, including closing all of its Orchard Supply Hardware stores and slashing inventory at its Lowe's stores. Lowe's has partnered with Hilco Merchant Services to help manage the process in the USA and ensure a seamless experience for customers.

The company cut its sales and profit outlook for the year.