Lowe’s to close 51 stores
Nov. 5, 2018
Lowe’s Cos. Inc. is closing 51 underperforming stores in the U.S. and Canada, the company announced Monday.
South Dakota stores in Sioux Falls, Brookings and Rapid City are not on the list. The closest one to Sioux Falls that’s being closed is in Mankato, Minn.
The North Carolina-based home improvement company said it will “focus on the most profitable stores and improve the overall health of its store portfolio.”
“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,” Marvin Ellison, president and CEO, said in a statement. “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.”
Twenty of the 51 stores are in the United States. According to the company, the majority are within 10 miles of another Lowe’s. The business has more than 2,000 locations.
The closings are expected to occur by February 2019.
