News | Strategic reassessment

Back

Lowe’s closes 20 stores in the USA and 27 in Canada

Lowe's is the world's second largest DIY retailer.

Lowe's is the world's second largest DIY retailer.

The US DIY store giant Lowe's is closing 20 stores in the USA as well as 27 stores and four other corporate subsidiaries in Canada. Most of the affected US branches are only ten miles away from another Lowe's store. Both of Lowe's locations in Manhattan are also on the list. In Canada, 24 Rona stores, two Lowe's stores and a location of the Réno-Dépôt brand will be shut down.

Most of the closures are expected to be completed by the end of financial year 2018/2019, i.e. by 1 February 2019, however some locations in the USA will be closed immediately.

According to a press release from Lowe's, the affected branches had not worked profitably and the closures are part of a strategic reassessment. They state that the company wishes to concentrate on its most profitable stores and improve the efficiency of its overall portfolio.

| 7 November 2018


SEND
 PRINT 

Post a comment

* Please complete the areas marked in red correctly and in full!.



(will not be published)

* obligatory fields


Latest news

Breakthrough of click & collect before Christmas

Clas Ohlson's sales in December increased by 4 per cent compared with December last year, corresponding to an organic growth of 2 per cent and to a View news...

Kesko sales in building and technical trade are declining

The Finnish Kesko Group closed the year 2018 with sales of EUR 4.2105 bn in its building and technical trade division. This is a decline of 4.8 per View news...

New experts support the Home Improvement eRetailer Summit

Four experts on e-commerce marketing and sales have agreed to join the advisory council of the Home Improvement eRetailer Summit. Scott Benedict is View news...

Eurobaustoff has got a first member in Sweden

Derome Aktiebolag is the first Swedish partner for the German building materials trade cooperative Eurobaustoff. The company has its headquarters in View news...

Actual figures

Statistics Home Improvement Europe


Statistics Home Improvement
This brochure provides a competent overview of the situation in the Home Improvement sector in 31 European countries.

Order now!

6th Global DIY Summit 2018

Color Expert, painting tools

Color Expert

COLOR EXPERT for painting tools

More than 1 100 participants came to the 6th Global DIY Summit in Barcelona. Here are the portraits of some of the most important companies that exhibited at the International Congress Exhibition.

Gallery