Lowe’s closing underperforming stores, including 1 in MA

Lowe’s closing underperforming stores, including 1 in MA

Lowe’s closing underperforming stores, including 1 in MA

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Twenty stores in the United States and 31 in Canada will no longer be in service.

The RONA store on Barrydowne Road in Greater Sudbury is set to close as Lowe's Companies Inc. focuses on its most profitable stores to improve the overall health of its store portfolio, it said in a news release.

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Lowe's stores in US states including New York, Texas and California and Rona outlets in Ontario, British Columbia and other Canadian provinces are being shut, Lowe's said.

Lowe's also expects to close nine stores in Ontario, six in Newfoundland, two in Labrador and one in British Columbia.

Based in Boucherville, Que., Lowe's Canadian business has more than 630 corporate and independent affiliate dealer stores.

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Lowe's now operates a total of 2,390 home improvement and hardware stores. (NYSE: LOW) today announced the wind-down of certain underperforming store locations as part of its ongoing strategic reassessment.

It was just over a year ago that Lowe's bought fellow Canadian home improvement retailer Rona.

Lowe's made the announcement Monday. Lowe's also did away with a few high-profile positions, such as its chief operating officer and chief customer officer, and replaced them with other roles that report directly to Ellison.

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The closures are expected to be completed by February, says the company.

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