Lowe’s is closing underperforming stores in US
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.”
The location in Granite City, 1333 Schaefer Rd, is on the list of stores that will be shut down by Feb. 1, 2019. In addition, two Missouri Lowe’s — one in Bridgeton and one in Florissant — are slated to close.
“While decisions that impact our associates are never easy, the store closures are a necessary step in our strategic reassessment as we focus on building a stronger business,” Marvin R. Ellison, Lowe’s president and CEO, said in a news release. “We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe’s stores.”
In addition to the 20 U.S. closings, the news release stated Lowe’s will close 31 Canadian stores.
The company announced that most of the stores, with a few exceptions of stores closing immediately, will hold closing sales to clear out inventory.
The list of other U.S. stores closing include locations in Alabama, California, Connecticut, Indiana, Louisiana, Massachusetts, Michigan, Minnesota, New York, Pennsylvania and Texas.