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HouTex
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Lowe’s will close 20 stores, cut 1,950 jobs, and open fewer new stores

submitted on October 17, 2011 by HouTex in "Stores / Merchants"
Home Improvement Retailer Lowe's has already closed 10 under-performing locations, and plans to close 10 more within a month. This move will affect 1,950 jobs.

The complete list of store closures is posted at http://www.usatoday.com/money/.....50801252/1

Lowe's operated 1,725 stores before the closures and planned to open 30 new stores per year.
But now that number will be reduced to 25 new stores this year and 10-15 annually after that.

        

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  • 128064
    laaya
    professor
    1 1 2
    11 8 2
    Posted by laaya on October 17, 2011, merged on October 17, 2011 by HouTex
    [reply] 3 0
    To focus more on Profitable locations, Lowe’s Closing 20 underperforming stores by chopping down the 1,950 employees

    stores set to be closed:

    CALIFORNIA

    Los Banos

    Westminster

    COLORADO

    Denver

    ILLINOIS

    Aurora

    Oswego

    LOUISIANA

    Chalmette

    MAINE

    Biddeford

    Ellsworth

    MASSACHUSETTS

    Haverhill

    MICHIGAN

    Ionia

    MINNESOTA

    Rogers

    NEW HAMPSHIRE

    Claremont

    Hooksett

    Manchester

    NEW JERSEY

    Old Bridge

    NEW YORK

    Batavia

    RHODE ISLAND

    N. Kingstown

    VIRGINIA

    Emporia

    WASHINGTON

    S. Tacoma

    WISCONSIN

    Brown Deer
  • 128077
    sandyshore
    professor
    2 1
    12 8 1
    Posted by sandyshore on October 17, 2011
    [reply] 1 0
    Does anyone else see an odd logic in closing 20 under performing stores this year and still opening 25 new stores.

    This closings are sad on so many levels.
      128084
    • HouTex
      admin
      Posted by HouTex on October 17, 2011
      [reply] 1 0
      I imagine contracts were signed and these new stores were already under construction in areas they believe (from their market research) will be successful. They were only able to cancel 5 of the 30 planned for this year, the others are probably already open or ready to open.

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