Lowe's set to close 31 Canadian stores, including two in the Sault

Lowe’s closing underperforming stores

Lowe’s to close dozens of underperforming stores across the US and Canada | Charlotte Observer

The company says the closings are part of the company's strategic reassessment. Marie, the Rona on Black Road and the Lowe's on Northern Avenue will also be shut down.

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

MOORESVILLE, N.C. - Lowe's Companies, Inc.

The company is already shuttering its Orchard Supply chain of 99 stores, leading to between US$390 million and US$475 million in write-downs. Twenty U.S. stores are also be closing.

Only one store in Texas is closing, the location at 3500 W. Airport Fwy in Irving.

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"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", Lowe's CEO Marvin Ellison said in a statement.

It expects the stores to be shuttered by February 1, 2019.

Some of the USA stores will close immediately, Lowe's said.

The U.S. retailer acquired Rona Inc.in Canada in 2016 in a deal valued at $3.2 billion. Additional details regarding the impact of the store closings will be provided in the next quarterly earnings release on November 20.

Three stores in the GTA have been marked for closure - two Rona locations in Mississauga and the Lowe's at Centrepoint Mall.

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