News | Quarterly report


Lowe’s loses sales and closes 34 stores in Canada

For the third quarter, Lowe's reports sales decreasing by 0.16 per cent.

For the third quarter, Lowe's reports sales decreasing by 0.16 per cent.

Lowe's will close 34 underperforming stores in Canada. Based on the findings of a strategic review, in the fourth quarter, the American home improvement retailer decided to take some more actions to improve future sales performance and profitability. It will undertake a process to simplify multiple Canadian store banners to drive efficiency and reduce operational complexity and reorganise the corporate support structure across Canada to serve stores more efficiently. And what is more, the retailer will rationalise the product assortment across the simplified Canadian store banners, to present a more coordinated assortment to the customer.

The company announced these actions in its quarterly report, which reports decreasing sales for the third quarter (ended 1 November 2019) of its fiscal year 2019/2020. Sales volume was USD 17.388 bn, down by 0.16 per cent. However, consolidated comparable sales increased by 2.2 per cent, and comparable sales for the U.S. home improvement business increased by 3.0 per cent.

|21 November 2019


Post a comment

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

(will not be published)

* obligatory fields

Latest news


Sales by French home improvement stores increased by 1.8 per cent in 2019

French home improvement stores ended 2019 with an increase in sales of 1.79 per cent compared with the previous year. Volume sales exhibited a bigger View news...

Eric Béchu switches from Leroy Merlin to the helm of Weldom

Weldom has a new boss. Eric Béchu has been CEO of the French DIY store chain since January. He has moved within the Adeo Group because he previously View news...

Mr. Bricolage members increase sales by two per cent

The strategic plan "Rebond" by the French cooperative Mr. Bricolage appears to be having an effect. At least that's how the company View news...

Mr. Bricolage has sold almost all 65 own stores

The stricken French home improvement retail cooperative Mr. Bricolage has now sold 59 of its 65 stores owned by the headquarters. 49 of the locations View news...