Lowe's Closing More Than 50 Stores Across United States, Canada

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PHILADELPHIA (CBS/CNN) -- In another sign of the times for retail, Lowe's is closing 51 North American stores.

The home improvement chain said Monday that locations are underperforming and the decision will help the hardware chain focus on its most profitable stores and "improve the overall health of its store portfolio."

Lowe's is shutting down 20 stores in the United States and 31 in Canada. The company said that a "majority" of the shuttered stores are within 10 miles of another Lowe's location.

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One of the stores that is being closed is located in Shippensburg, Pennsylvania.

The stores will be closed before Feb. 1, 2019. The company will try to find jobs at nearby stores for its employees affected by the closings.

"The store closures are a necessary step in our strategic reassessment as we focus on building a stronger business," said CEO Marvin R. Ellison.

Lowe's is struggling to keep up with its larger rival Home Depot. Last year, Home Depot's revenue hit more than $100 million, while Lowe's sales were below $70 million.

Lowe's stock price has also lagged behind its rival, leading to pressure from activist investors.

Earlier this year, Lowe's gave the reins to a home improvement veteran to turn around the company. Ellison was a top executive Home Depot for more than a decade, and most recently served as JCPenney's CEO.

Ellison has already made some big strategic decisions, including closing all of its Orchard Supply Hardware stores and slashing inventory at its Lowe's stores.

He believes targeting professional home builders and construction companies with higher-quality tools and equipment, additional discounts, and better customer service will improve Lowe's. Sales to home building pros make up around 45 percent of Home Depot's sales, but only around 30% of Lowe's sales, according to analysts at Wedbush Securities.

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See below for a full list of closures:

U.S.

Alabama
Lowe's of Graysville, AL (Store #3039)
1100 Bankhead Hwy SW
Graysville, AL 35073

California
Lowe's of Aliso Viejo, CA (Store #1900)
26501 Aliso Creek Rd
Aliso Viejo, CA 92656

Lowe's of Irvine, CA (Store #769)
13300 Jamboree Rd
Irvine, CA 92602

Lowe's of South San Francisco, CA (Store #2452)
720 Dubuque Ave
South San Francisco, CA 94080

Lowe's of Central San Jose, CA (Store 2842)
750 Newhall Dr
San Jose, CA 95110

Connecticut
Lowe's of Orange, CT (Store #621)
48 Boston Post Rd
Orange, CT 06477

Illinois
Lowe's of Granite City, IL (Store #3028)
1333 Schaefer Rd
Granite City, IL 62040

Lowe's of Gurnee, IL (Store #1829)
7735 Grand Ave
Gurnee, IL 60031

Indiana
Lowe's of Portage, IN (Store #1778)
6221 US Hwy 6
Portage, IN 46368

Louisiana
Lowe's of E. New Orleans, LA (Store #2690)
5770 Read Blvd
New Orleans, LA 70127

Massachusetts
Lowe's of Quincy, MA (Store #2267)
599 Thomas Burgin Pkwy
Quincy, MA 02169

Michigan
Lowe's of Burton, MI (Store #761)
4274 E Court St
Burton, MI 48509

Lowe's of Flint, MI (Store #669)
2100 T.A. Mansour Blvd
Flint, MI 48532

Minnesota
Lowe's of Mankato, MN (Store #2855)
2015 Bassett Dr
Mankato, MN 56001

Missouri
Lowe's of Bridgeton, MO (Store #2299)
11974 Paul Mayer Ave
Bridgeton, MO 63044

Lowe's of Florissant, MO (Store #748)
3180 N Hwy 67
Florissant, MO 63033

New York
Lowe's of Manhattan – Upper West Side (Store #3292)
2008 Broadway
New York, NY 10023

Lowe's of Manhattan – Chelsea (Store #3293)
635-641 6th Ave
New York, NY 10011

Pennsylvania
Lowe's of Shippensburg, PA (Store #2816)
250 South Conestoga Dr
Shippensburg, PA 17257

Texas
Lowe's of Irving, TX (Store #1811)
3500 W Airport Fwy
Irving, TX 75062

Canada

British Columbia
RONA Columbia Square (Store #61580)
105-1015 Columbia Street, New Westminister

Alberta
RONA Calgary (Douglasdale, Store #62520)
11520 – 24th Street SE, Calgary

Reno-Depot Calgary West (Store #62880)
12330 Symons Valley Road NW, Calgary

Ontario
RONA Mississauga (Westdale Mall, Store #55430)
1133 Dundas Street West, Mississauga

RONA Mississauga (Lakeshore, Store #55390)
1692 Lakeshore Rd, Mississauga

RONA Sault Ste. Marie (Store #33640)
132 Black Road, Sault Ste. Marie

RONA Sudbury (Store #33020)
943 Barry Downe Road, Sudbury

RONA Peterborough (Store #55520)
1575 Chemong Road, Peterborough

RONA Kingston (Bath Road, Store #55310)
1452 Bath Road, Kingston

RONA Lakefield (Store #33140)
178 Water Street, Lakefield

Lowe's North York – Centerpoint (Store #3320)
6600 Yonge Street, North York

Lowe's Sault Ste. Marie (Store #3276)
248 Northern Avenue, Sault Ste. Marie

Québec
RONA Ste-Clotilde (Store #44000)
335, Route 209, Sainte-Clotilde-de-Chateauguay

RONA Iberville (Store #44110)
870, boulevard d'Iberville, Saint-Jean-sur-Richelieu

RONA L'Assomption (Store #44070)
723, boulevard L'Ange-Gardien, L'Assomption

RONA Granby Moeller (Store #44060)
788, rue Moeller, Grandby

RONA Ste-Rose (Store #44040)
134, boulevard Sainte-Rose, Laval

RONA Rivière-des-Prairies (Store #43250)
9200, boulevard Maurice-Duplessis, Montréal

RONA Rouyn-Noranda (Store #43270)
1200, rue Mantha, Rouyn-Noranda

RONA Ange-Gardien (Store #43070)
194, rue Principale, Ange-Gardien

RONA Saint-Elzéar (Store #43290)
100, rue du Parc Industriel, Saint Elzéar

Newfoundland
RONA Conception Bay South (Killigrews, Store #22040)
825 Conception Bay Hwy, Conception Bay

RONA Goulds (Store #22030)
53-59 Main Highway, Goulds

RONA St. John's (Topsail, Store #22010)
1297 Topsail Road, St. John's

RONA St. John's (O'Leary, Store #22070)
60 O'Leary Avenue, St. John's

RONA St. John's (Torbay, Store #22130)
710 Torbay Road, St. John's

RONA Bay Roberts (Store #22120)
239 Conception Bay, Bay Roberts

(©Copyright 2018 CBS Broadcasting Inc. All Rights Reserved.The-CNN-Wire™ & © 2018 Cable News Network, Inc., a Time Warner Company contributed to this report.)

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