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

submitted 223 days ago 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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professor

Posted by laaya 223 days ago, merged 223 days ago by HouTex

[reply]

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

professor

2 1

Posted by sandyshore 223 days ago

[reply]

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.

admin

Posted by HouTex 223 days ago

[reply]

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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