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Lowe’s to Close more than 50 locations

Lowe’s Companies, Inc. (NYSE: LOW) today announced the wind-down of certain underperforming store locations as part of its ongoing strategic reassessment. To focus on its most profitable stores and improve the overall health of its store portfolio, the company will:

  • Close 20 U.S. stores. Most associates at these stores will be extended opportunities to transition to a similar role at a nearby Lowe’s store. The majority of impacted stores are located within 10 miles of another Lowe’s store.
  • Close 31 Canadian stores and other locations.

“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, Lowe’s president and 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 (Feb. 1, 2019). To facilitate an orderly wind-down, the company intends to conduct store closing sales for most of the impacted locations with the exception of select stores in the U.S., which will close immediately. Lowe’s has partnered with Hilco Merchant Services to help manage the process in the U.S. and ensure a seamless experience for customers.

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The expected financial impact of today’s announcement of $0.28 to $0.34 per diluted share was not contemplated in the business outlook for fiscal 2018 which the company provided on Aug. 22 when it released its second quarter earnings. Additional details regarding the impact of the store closings will be provided in the next quarterly earnings release on Nov. 20.

U.S. Store Closures

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

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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 Store Closures

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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About Carl Fox

Carl Fox is the money and finance editor for Conservative Daily News. Follow him in the "Money & The Economy" section at CDN and see his posts on the "Junior Economists" Facebook page.

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