Home improvement retailer Lowe's announced Monday that it will be closing 51 locations in North America as part of their new CEO's effort to revamp the firm's business strategy.
Lowe's said most stores will offer major discounts prior to their closures, but some will shut down immediately.
Home-improvement retailer Lowe's Cos. announced Monday plans to close 51 stores in North America, including two in IL and one in Indiana.
Lowe's Companies Inc. refused an interview request from CBC, but in an emailed statement, a spokesperson said that "everything will be done to ensure a smooth transition until the stores are closed, including through transfers of eligible employees to other locations whenever possible".
According to Lowe's, the locations are underperforming, and a "majority" are within ten miles of another Lowe's location.
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The impacted stores are slated to close by February 1, 2019.
Lowe's is closing almost 50 underperforming stores across the US and Canada.
A list of impacted stores can be found here.
Lowe's said Monday the closings will help the hardware chain focus on its most profitable stores. As recently as August, Lowe's held a job fair for the store.
Deelstra said he was told the employer started contacting people at 9 a.m. on Sunday to come in for a meeting after store closing, but didn't specify what the meeting was about.
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Founded in 1946, Lowe's has more than 2,390 stores and past year generated $68.6 billion in sales.
MOORESVILLE, N.C. - Lowe's Companies, Inc. Lowe's reports financial results Wednesday, Nov. 16.
Last week, for instance, Lowe's hired Seemantini Godbole, Target's senior vice president of digital and marketing technology, as its chief information officer.
Marvin Ellison, the new CEO, previously said he wants to focus more on improving core retail areas and increasing online sales.
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