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Mon Nov 5, 2018, 12:33 PM

These Lowe's stores are closing in the next three months

Lowe’s Companies said Monday that it will close 51 underperforming stores, including 20 in the U.S. and as many as 31 in Canada, as part of its plan to focus on its most profitable stores.

The stores being closed are located across 13 states in the U.S. and five provinces in Canada.

The home improvement retailer expects the store closures to be completed by Feb. 1, 2019, which is the end of its fiscal 2018. The company plans to have closeout sales in most of the stores it is shutting, except for some U.S. stores that are closing immediately.

Most employees of the U.S. stores being closed will be provided the opportunity to have similar jobs at nearby Lowe’s stores. The majority of the stores being closed are within 10 miles of another store.

https://www.marketwatch.com/story/these-lowes-stores-are-closing-in-the-next-three-months-2018-11-05?mod=pulse_full_story

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Reply These Lowe's stores are closing in the next three months (Original post)
Sherman A1 Nov 2018 OP
Siwsan Nov 2018 #1
Wellstone ruled Nov 2018 #4
Siwsan Nov 2018 #5
Wellstone ruled Nov 2018 #7
Sherman A1 Nov 2018 #9
secondwind Nov 2018 #2
unc70 Nov 2018 #3
lunatica Nov 2018 #6
hunter Nov 2018 #8

Response to Sherman A1 (Original post)

Mon Nov 5, 2018, 12:40 PM

1. Oh no! The Lowes I shop at is closing!

I loved their plant nursery and have been shopping there for my current house rejuvenation projects. But this doesn't really surprise me - there's a Home Depot right across the street, and the Lowes is never really that busy.

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Response to Siwsan (Reply #1)

Mon Nov 5, 2018, 01:25 PM

4. You noticed.

When the Stock Price becomes more important than your Customer,you are going to fail. They just completed a round of hiring new top management,ex Wal Mart and Sears as well as a cast off from Home Depot. .

And they just completed a round of in Store Firerings,cut their Store Secondary Management,nation wide.

Good luck trying to find someone to answer a question or where a product is.

But,their stock price increased.

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Response to Wellstone ruled (Reply #4)

Mon Nov 5, 2018, 01:49 PM

5. The employees (when I've found one) have always been very helpful

And I bought a whole lot of 'distressed' flower plants from them.

We just lost Sears, and now Lowe's - those are some huge retail spaces that will likely never be filled.

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Response to Siwsan (Reply #5)

Mon Nov 5, 2018, 02:01 PM

7. Lowes is their own worse enemy.

Glad to here you had a good experience. The Store I worked at part time,we strived to meet and greet every Customer within twenty seconds upon entry into our Store. In fact,during what we called Power Hours,everyone would have to pull Greeter duty.

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Response to Siwsan (Reply #1)

Mon Nov 5, 2018, 02:22 PM

9. Same here.

I am losing the two closest to me. Never been a big shopper of Home Depot, but I guess I'm going to learn to be one. Really liked the layout of the Lowes garden section not that it makes much difference any more as they won't be there.

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Response to Sherman A1 (Original post)

Mon Nov 5, 2018, 12:44 PM

2. This may be "why" so many jobs are being "added" .... many companies/stores closing up, and

employees finding other jobs.

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Response to Sherman A1 (Original post)

Mon Nov 5, 2018, 01:07 PM

3. Most closings are in Canada

This is mostly related to closing stores acquired with the purchase of the Rona chain in Canada. Before that acquisition, Lowe's had only about 40 of its own stores in Canada. This is mostly adjusting for overlap there and slight pruning of stores elsewhere. This happens all the time with chains of over 2,000 stores.

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Response to Sherman A1 (Original post)

Mon Nov 5, 2018, 01:53 PM

6. Just in time for Christmas!

Happy Holidaze! Goodwill to all!

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Response to Sherman A1 (Original post)

Mon Nov 5, 2018, 02:09 PM

8. The California closings look like real estate deals.

It's likely the stores are being closed because the land is worth far more than the business. Sell it while it's hot.

It wouldn't surprise me to see expensive apartments, condos, hotels, or corporate campuses going up on these sites.

For example, the South San Francisco site is across the street from the Genetech campus and in the neighborhood of several hotels.

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