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.
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
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