Lowe’s Companies, Inc. will close 51 stores in the U.S. and Canada.
More than half of the store closings will take place in Canada.
The majority of impacted stores are located within 10 miles of another Lowe’s store.
No Delaware stores were affected. Stores in the First State generally benefit from the lack of a sales tax, a factor in the purchase of building materials and household goods. Lowe’s has aggressively expanded in Delaware and opened stores in smaller communities, such as Seaford The closest location to close is in upstate Pennsylvania.
“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,” said Marvin R. Ellison, CEO. “We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe’s stores.”
Lowe’s expects to close the impacted stores by the end of the company’s 2018 fiscal year in February.
Under Ellison a new CEO, the company has been working to improve profitability. It shuttered all locations of Orchard Supply, a California chain of hardware stores. Click here for a list of closings.
