Lowe’s Inc. announced this morning that it will close 20 underperforming US stores and an additional 31 Canadian locations by February 1, 2019 (the end of the company’s fiscal year). The closings are a part of the strategic realignment initiated by CEO Marvin Ellison soon after he took the helm this summer, a plan that will also see the company shutter the entire Orchard Supply Hardware Chain.
The company noted that the majority of the stores that are closing are located within 10 miles of another Lowe’s location, a state of affairs you can check out by using the radius tool in the map below, which we created using data from the CSG retail locations database.
As Ellison stated in the announcement, decisions to close stores are never easy. Many observers, though, have characterized the tough decisions the company has made in recent months as a needed corrective to better position the company for future growth.
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