Lowe’s Is Closing 51 Stores
Lowe’s has a chain of stores that is underperforming and downsizing the number of stores they have will help with profitability.
Lowes will be closing the doors on 20 stores in the United States and 31 stores in Canada. The company is planning to try to find jobs at nearby stores for its employees affected by the closings. But selected stores are not expected to close until February 2019.
“We believe our people are the foundation of our business and essential to our future growth” – Marvin R. Ellison CEO
The company does not feel that they are in trouble or in danger of closing. They are just making the necessary adjustments to maintain the companies profitability.