Lowe's Is Closing 51 Stores In The US And Canada

boontito

Future Staff
Jan 2008
105,456
94,990
Most Insidious
#1
The question will be is this the first step towards a Sears/K-Mart situation or is this an opportune regrouping?

https://www.cnn.com/2018/11/05/business/lowes-closures/index.html

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

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.
 
Jan 2007
35,091
7,707
#2
In my area Lowe's and Home Depot are within a stone throw of each other. Other Lowe's are < then 10 miles away. Then there are other stores selling similar product all over.
 
Mar 2012
55,710
37,181
New Hampshire
#3
Home Depot is definitely more popular here. I read an article when Lowes first started expanding that said they would try to engage females more in their stores by incorporating curtains, furniture, wall hangings and brightening up the store. Yet I dont know many females that say "lets go to Lowes and get curtains." So I guess its possible they went after a market share that just wasnt there. Otherwise I find both stores very similar and this might just be preference.
 
Likes: johnflesh
Jan 2014
16,291
6,211
south
#4
The question will be is this the first step towards a Sears/K-Mart situation or is this an opportune regrouping?

https://www.cnn.com/2018/11/05/business/lowes-closures/index.html

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

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.
yup. economizing the business. happens all the time. besides, Lowe's has picked up the franchise for Craftsman tools.
 
May 2016
3,670
916
california
#5
Amazon too, is effecting hardware stores, though I don't see a hot water heater being ordered at Amazon by individual consumers just yet.
 

johnflesh

Former Staff
Feb 2007
25,680
18,101
Colorado
#6
I shop at hardware stores weekly. It's a joy of mine to just head down there.

Lowes is more expensive, but runs better sales than Home Depot. Lowes is always more empty than HD, so that can be a plus, but not by much.

If you saturate the markets with supply, you have to be competitive - especially when your competition is literally right next door. Lowes isn't competitive enough. The one local to me stopped doing price matching which was a huge turn off.
 

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