Economy

Lowe's to close underperforming stores in US, Canada

Lowe's to close underperforming stores in US, Canada

A list of impacted stores may be found on Lowe's newsroom.

Lowe's is closing more than 50 underperforming stores - including one in MA - by February of 2019.

Twenty stores in the United States and 31 in Canada will no longer be in service. Others and the Canadian stores are expected to close by February 1, the end of the company's fiscal year.

North Carolina-based Lowe's said the majority of stores impacted are located within 10 miles of another Lowe's, and that most employees "will be extended opportunities to transition to a similar role" at a nearby store.

Close 20 US stores.

More news: Rick Grimes' Walking Dead Adventures Will Continue In Movies

Lowe's now operates a total of 2,390 home improvement and hardware stores.

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 August 22 when it released its second quarter earnings. Even in his first few months as the new CEO of Lowe's, Ellison has taken a number of steps to improve the company's financial health.

Lowe's made the announcement Monday.

Last week, for instance, Lowe's hired Seemantini Godbole, Target's senior vice president of digital and marketing technology, as its new chief information officer.

The company is already shuttering its Orchard Supply chain of 99 stores, leading to between US$390 million and US$475 million in write-downs.


  • May Secures Key EU Brexit Concessions on Customs, Times Says

    May Secures Key EU Brexit Concessions on Customs, Times Says

    He warned that Theresa May's deal may only help Jeremy Corbyn's chances to gain the keys to 10 Downing Street at the next election.
    Man City boss Guardiola on 2-goal Sterling: He's no longer scared

    Man City boss Guardiola on 2-goal Sterling: He's no longer scared

    He said: "The team has shown me that in some positions and some actions we are not stable enough". "But it is good". A Wesley Hoedt own goal was quickly followed by a Sergio Aguero strike before David Silva added a third.
    Lakers have agreed to sign Tyson Chandler after center waived

    Lakers have agreed to sign Tyson Chandler after center waived

    While Chandler has struggled to be on the court in recent years, playing 47 games in games in 2016-17 and 46 games in 2017-18. Chandler was drafted by the Clippers as the second-overall pick of the 2001 draft, but was immediately traded to the Bulls.
  • Dodgers, Clayton Kershaw agree to deal

    Dodgers, Clayton Kershaw agree to deal

    At 30, Kershaw has experienced a fastball velocity decrease, and he missed time this season because of two stints on the disabled. Kershaw has a career 153-69 regular-season record with a 2.39 ERA in 318 games but it's in the postseason where his numbers drop.
    Virtual Reality Headsets Market Latest Trend, Growth by Size, Application & Forecast 2022

    Virtual Reality Headsets Market Latest Trend, Growth by Size, Application & Forecast 2022

    The Mixed Reality in Gaming Market report includes a comprehensive analysis of key Mixed Reality in Gaming Market players. This report investigates market revenue, Consumption, price analysis, growth rate from period 2012-2022.
    Unseeded Khachanov stuns Djokovic to win Paris Masters

    Unseeded Khachanov stuns Djokovic to win Paris Masters

    But Federer saved every break point 12 of them and secured the only break of the match in clinching the second set. There I won the tournament and here I played in the semis and it needed somebody of Novak's calibre to beat me.
  • Iranians chant 'death to America' on eve of biting sanctions

    Iranians chant 'death to America' on eve of biting sanctions

    To continue exporting crude oil , Iranian tankers in recent weeks have been turning off their transponders to avoid detection. We've got Brent crude at about the same price it was back in May when the president announced the withdrawal from the JCPOA.
    Epic Games Introduces Balloons in Fortnite Patch 6.21

    Epic Games Introduces Balloons in Fortnite Patch 6.21

    The only thing we know for sure is that if you're a diehard Fortnite fan, you'll want to be in a match during that time Sunday.
    One dead, one missing after Amazon building collapse in the United States

    One dead, one missing after Amazon building collapse in the United States

    In a statement , an Amazon spokesperson told the Sun that, 'First responders remain onsite assessing the damage. Clark said the body of a second person was pulled from the rubble around 7:30 a.m.
  • Cubs keep LHP Hamels for $20M

    Cubs keep LHP Hamels for $20M

    On the whole, he posted a 2.36 ERA in 12 starts, pitching one complete game and striking out 74 across 76 1/3 innings. If he has 550 plate appearances next year, he would again have the right to void the deal and become a free agent.
    USA  drops the sanctions hammer on Iran ... again

    USA drops the sanctions hammer on Iran ... again

    But oil imports from Iran had started declining in FY18 to 22.6 million tonnes from 27.2 million tonnes in FY17. It also said the lifting of sanctions allowed Iran to finance militant groups and its own military activity.
    Ryan Reynolds goes after Hugh Jackman in mock political ad

    Ryan Reynolds goes after Hugh Jackman in mock political ad

    Ryan goes on to say that perhaps Hugh isn't the right actor to give a "preachy liberal speech" at the awards ceremony this season. Reynolds questioned video viewers. "Or maybe there's a real foreigner from a border country who would really love it... a lot".