Lowe's To Shut Down 51 Stores In US, Canada
IRVINE (CBSLA) — Lowe's announced Monday it would close 20 of its U.S. stores, including two in Orange County, as retailers gear up for the holiday shopping season.
Besides the 20 underperforming U.S. stores that will be closed, 31 stores in Canada and other locations will also be shuttered, the company said in a statement.
"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," Lowe's president and CEO Marvin R. Ellison said in the statement.
Four California locations are part of the closures, with two in Irvine, 13300 Jamboree Road, and Aliso Viejo at 26501 Aliso Viejo Creek Road.
The impacted stores are expected to be closed by Feb. 1, 2019, the end of the company's 2018 fiscal year. Employees at these stores will have the opportunity to move into similar roles at nearby Lowe's stores, according to the company.